Guideline Value for MOTHILAL NEHRU STREET

Mothilal Nehru Street guideline value

The current guideline value of Mothilal Nehru Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Jelandianpettai village, under the Chennai South Joint I SRO, and is classified as Residential Class II Type - I.

How the guideline value of Mothilal Nehru Street has changed

Over the years, the guideline value for Mothilal Nehru Street has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and currently, the 2024 revision has raised it to Rs 2,200 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, the value increased by 49% from 2017 to 2023. The overall change from 2012 to 2024 reflects an increase of 10%.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which matches the current value of Mothilal Nehru Street.

• M.O.C. Street: Rs 2,200 per sq.ft (2024)
• M.G.R. Street: Rs 2,200 per sq.ft (2024)
• M.G.R. Salai: Rs 2,200 per sq.ft (2024)
• M.G.R. Cross Street: Rs 2,200 per sq.ft (2024)
• Muthu Nagar: Rs 2,200 per sq.ft (2024)
• Muthu Vinayagar Kovil Street- Pallavan Nagar: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Mothilal Nehru Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mothilal Nehru Street?

The Mothilal Nehru Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Jelandianpettai. It is used to determine the stamp duty and registration fees that must be paid during the registration process. The guideline value is set by the Registration Department and is regularly revised to reflect market conditions.

When a property is sold, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Mothilal Nehru Street?

The current guideline value of Mothilal Nehru Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Mothilal Nehru Street?

Mothilal Nehru Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Mothilal Nehru Street?

The Sub Registrar Office covering Mothilal Nehru Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Jelandianpettai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be calculated at 7% of that amount.