Guideline Value for Mosque Street Storeline (Ward-20)

Mosque Street Storeline (Ward-20) guideline value

The current guideline value of Mosque Street Storeline (Ward-20) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of Mosque Street Storeline (Ward-20) has changed

The guideline value for Mosque Street Storeline (Ward-20) has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, reflecting an 8% rise from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

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. The median guideline value in this area is Rs 1,600 per sq.ft, indicating that the 2024 figure for Mosque Street Storeline is below this median.

• Mosque Street (Periyar Nagar): Rs 1,300 per sq.ft (2024)
• Mosque Street: Rs 1,300 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)
• Moolakkadai Bazaar Thottam: Rs 3,300 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 Storeline (Ward-20)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Mosque Street Storeline (Ward-20)?

The Sub Registrar Office covering Mosque Street Storeline (Ward-20) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value assigned to the property by the government. This value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Mosque Street Storeline (Ward-20)?

The current guideline value of Mosque Street Storeline (Ward-20) 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 remained at Rs 1,200 per sq.ft from 2012 to 2023, before increasing to Rs 1,300 per sq.ft in 2024. Overall, there has been an 8% increase in the guideline value from 2012 to 2024.

What is the land classification for Mosque Street Storeline (Ward-20)?

Mosque Street Storeline (Ward-20) falls under the Residential Class III Type - I land classification.

What are the stamp duty and registration fees for property transactions in this area?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000. The duty is charged based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Mosque Street Storeline (Ward-20)?

The Madhavaram Sub Registrar Office, which covers Mosque Street Storeline (Ward-20), is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.