Guideline Value for MOTHILAL NEHRU STREET 1ST STREET

Mothilal Nehru Street 1st Street guideline value

The current guideline value of Mothilal Nehru Street 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village under the Purasaivakkam SRO, classified as Residential Class IV Type - I.

How the guideline value of Mothilal Nehru Street 1st Street has changed

The guideline value for Mothilal Nehru Street 1st Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,100 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking an increase of 264%. However, from 2012 to 2017, the value decreased to Rs 2,680 per sq.ft, a decline of 33%. The subsequent revisions saw a rise, with the 2017 value at Rs 4,000 per sq.ft and then increasing to Rs 4,400 per sq.ft in 2024, a growth of 10% from the previous year.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 300%, reflecting the changes in the real estate landscape.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value is Rs 5,500 per sq.ft, placing Mothilal Nehru Street 1st Street's 2024 figure below this median.

• Mookku Chetty Street: Rs 6,000 per sq.ft (2024)
• Mookkathal Street: Rs 7,700 per sq.ft (2024)
• Murugappa Mudali Street: Rs 6,500 per sq.ft (2024)
• Millers Road Lane: Rs 10,900 per sq.ft (2024)
• Millers Road Blind Lane: Rs 9,300 per sq.ft (2024)
• Millers Road: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Mothilal Nehru Street 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total cost for these fees would be Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mothilal Nehru Street 1st Street?

The Sub Registrar Office that covers Mothilal Nehru Street 1st Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Purasaivakkam

The guideline value is essential when registering property transactions in Purasaivakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value is typically used to determine the minimum value for which the property can be registered. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Mothilal Nehru Street 1st Street?

The current guideline value of Mothilal Nehru Street 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,100 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 300% over this period.

What are the stamp duty and registration fees for this street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office is responsible for Mothilal Nehru Street 1st Street?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, is responsible for Mothilal Nehru Street 1st Street.

What is the land classification for Mothilal Nehru Street 1st Street?

The land classification for Mothilal Nehru Street 1st Street is Residential Class IV Type - I.