Guideline Value for Mosque Street (Periyar Nagar)

Mosque Street (Periyar Nagar) guideline value

The current guideline value of Mosque Street (Periyar Nagar) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Mosque Street (Periyar Nagar) has changed

The guideline value for Mosque Street (Periyar Nagar) has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, an increase of 8% from the previous year's figure of Rs 1,200 per sq.ft in 2023. The 2012 revision also recorded Rs 1,200 per sq.ft, indicating no change from that year to 2023. Notably, there are no figures available for the revisions in 2017, 2007, 2003, and 2002.

Overall, from 2012 to 2024, the guideline value has increased by 8%. The absence of figures for the earlier revisions suggests a lack of data for those years, making the 2012 figure the starting point for this analysis.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Mosque Street (Periyar Nagar) is below this median.

• Mosque Street Storeline (Ward-20): Rs 1,300 per sq.ft (2024)
• Mosque Street: Rs 1,300 per sq.ft (2024)
• Moolakkadai Bazaar Thottam: Rs 3,300 per sq.ft (2024)
• M.P. Vedhachalam Street: Rs 1,600 per sq.ft (2024)
• M.P. Vedha Street: Rs 1,300 per sq.ft (2024)
• Moolachatram Perumal Koil Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Mosque Street (Periyar Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total cost Rs 1,17,000. 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 the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Mosque Street (Periyar Nagar)?

The Sub Registrar Office covering Mosque Street (Periyar Nagar) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Madhavaram. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum value at which the property should be registered. This process is essential for maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Mosque Street (Periyar Nagar)?

The current guideline value of Mosque Street (Periyar Nagar) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, marking an 8% increase. The value remained unchanged at Rs 1,200 per sq.ft from 2012 to 2023.

What is the land classification for Mosque Street (Periyar Nagar)?

Mosque Street (Periyar Nagar) is classified as Residential Class III Type - I, indicating its suitability for residential purposes within the area.

Where can I find the registration office for properties in Madhavaram?

The registration office for properties in Madhavaram is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Mosque Street (Periyar Nagar)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 91,000 at 7%.