Guideline Value for Mokshin Road

Mokshin Road guideline value

The current guideline value of Mokshin Road in Parangimalai village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - II.

How the guideline value of Mokshin Road has changed

The guideline value for Mokshin Road has seen several revisions over the years. The earliest recorded revision was in 2002, with a guideline value of Rs 295 per sq.ft. This value increased to Rs 369 per sq.ft in 2003, marking a 25% rise. The subsequent revision in 2007 saw a significant increase to Rs 800 per sq.ft, which was a 117% change. In 2012, the value was adjusted to Rs 3,000 per sq.ft, reflecting a decrease of 275% from the previous figure. The 2017 revision brought the value up to Rs 2,010 per sq.ft, an increase of 49% from 2012. The most recent revision in 2023 set the value at Rs 3,000 per sq.ft, which was a 49% increase from the 2017 figure. Finally, the 2024 revision established the current value at Rs 3,300 per sq.ft, marking a 10% increase from 2023.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft, with a median value of Rs 3,850 per sq.ft. Mokshin Road's 2024 guideline value is below this median.

• Mosque Street: Rs 3,300 per sq.ft (2024)
• Mount Poobamallee Road: Rs 7,700 per sq.ft (2024)
• M.K.Road Ist Lane / Iind Lane: Rs 5,500 per sq.ft (2024)
• M.K.N.Road 3nd Street: Rs 5,500 per sq.ft (2024)
• M.K.N. Road 1st Street: Rs 5,500 per sq.ft (2024)
• M.K.N Road: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Mokshin Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. 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 precise calculations.

Which Sub Registrar Office covers Mokshin Road?

The Sub Registrar Office for Mokshin Road is the Chennai South Joint II 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 Parangimalai

The guideline value is a crucial factor during the registration of property transactions in Parangimalai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is sold or purchased.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Mokshin Road?

The current guideline value of Mokshin Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly over the years, increasing from Rs 295 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, which is an overall increase of 1019%.

What is the land classification for Mokshin Road?

Mokshin Road is classified as Residential Class II Type - II under the Chennai South Joint II SRO.

What are the stamp duty rates for properties in Mokshin Road?

The stamp duty rate for properties in Mokshin Road is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Mokshin Road located?

The Sub Registrar Office covering Mokshin Road is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.