Guideline Value for Mosque Street

Mosque Street guideline value

The current guideline value of Mosque Street in Cantonment Pallavaram village is Rs 3,850 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Mosque Street has changed

The guideline value for Mosque Street has undergone several revisions over the years. Starting from the 2003 revision, the value was Rs 629 per sq.ft. This increased significantly to Rs 800 per sq.ft in 2007, marking a rise of 27%. The value then surged to Rs 3,500 per sq.ft in 2012, reflecting a remarkable increase of 338%. However, in 2017, it decreased to Rs 2,345 per sq.ft, a drop of 33%. The value saw a substantial increase again in 2023, reaching Rs 3,500 per sq.ft, before the latest revision in 2024 brought it to Rs 3,850 per sq.ft, an increase of 10%.

It is important to note that there is no figure for Mosque Street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 512%.

Guideline values in Cantonment Pallavaram

In Cantonment Pallavaram, there are 81 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 11,000 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, placing Mosque Street's 2024 figure above this median.

• M.K. Padmanaban Street: Rs 2,700 per sq.ft (2024)
• Milagupillai Street: Rs 2,200 per sq.ft (2024)
• Muthalamman Koil Street: Rs 2,700 per sq.ft (2024)
• Mattry Square: Rs 2,200 per sq.ft (2024)
• Market Lane: Rs 3,300 per sq.ft (2024)
• Mariyamman Koil Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mosque Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for stamp duty and registration fees to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mosque Street?

The Sub Registrar Office that covers Mosque Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor in the registration process when buying or selling property in Cantonment Pallavaram. It serves as a reference point for calculating stamp duty and registration fees, ensuring that these costs reflect the official valuation of the property.

When a buyer or seller engages in a transaction, the guideline value helps to determine the legal obligations regarding taxes and fees. It is crucial for both parties to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Mosque Street?

The current guideline value of Mosque Street is Rs 3,850 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 629 per sq.ft in 2003 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 512% over this period.

What is the registration office for Mosque Street?

The registration office for Mosque Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What are the stamp duty and registration fees for properties in Mosque Street?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

What is the land classification for Mosque Street?

Mosque Street is classified as Residential Class I Type - I, indicating its designation for residential use within the Cantonment Pallavaram area.