Guideline Value for MOTILAL STREET

Motilal Street guideline value

The current guideline value of Motilal Street is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Mixed Special Type - I.

How the guideline value of Motilal Street has changed

Over the years, the guideline value of Motilal Street has seen significant changes. In 2002, the value was Rs 2,718 per sq.ft, which increased to Rs 3,200 per sq.ft in 2003, marking an 18% rise. By 2007, the value rose further to Rs 4,000 per sq.ft, reflecting a 25% increase. The next revision in 2012 saw the value rise to Rs 13,000 per sq.ft, a notable 225% increase from the previous figure. However, in 2017, the guideline value dropped to Rs 8,710 per sq.ft, showing a decline of 33%.

In 2023, the value increased to Rs 13,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 14,300 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 426%.

Guideline values in Tnagar

Within Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft, with a median value of Rs 11,000 per sq.ft. Motilal Street's 2024 guideline value is above this median.

• Moosa Sait Street: Rs 11,000 per sq.ft (2024)
• Moopparappan Street: Rs 7,700 per sq.ft (2024)
• Model House Road: Rs 5,500 per sq.ft (2024)
• Murugan Street: Rs 13,200 per sq.ft (2024)
• Murugesan Street: Rs 11,000 per sq.ft (2024)
• Muthukrishnan Street: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Motilal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value amounts to Rs 1,43,00,000. The stamp duty at 7% would be Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, totaling Rs 12,87,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Motilal Street?

The Sub Registrar Office that covers Motilal Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tnagar. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Motilal Street?

The current guideline value of Motilal Street is Rs 14,300 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 2,718 per sq.ft in 2002 to Rs 14,300 per sq.ft in 2024, which is an overall increase of 426% over the years.

What is the land classification for Motilal Street?

Motilal Street is classified as Mixed Special Type - I, which indicates its varied usage and potential for development.

What are the stamp duty and registration fees for property in Motilal Street?

For a 1,000 sq.ft plot, the total stamp duty would be Rs 10,01,000, and the registration fee would be Rs 2,86,000, totaling Rs 12,87,000 based on the current guideline value.

Where can I find the Sub Registrar Office for Motilal Street?

The Sub Registrar Office for Motilal Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.