Guideline Value for Mosque Street

Mosque Street guideline value

The current guideline value of Mosque Street in Nungambakkam village is Rs 7,100 per sq.ft, effective from 1 July 2024. This street falls under the Chennai Central Joint II SRO and is classified as Residential Class II Type - I.

How the guideline value of Mosque Street has changed

The guideline value of Mosque Street has seen several revisions over the years. In 2007, the value was Rs 2,000 per sq.ft, which increased significantly to Rs 6,500 per sq.ft in 2012, marking a 225% increase. However, between 2012 and 2017, the value decreased to Rs 4,355 per sq.ft, a decline of 33%. The value then rose to Rs 6,500 per sq.ft in 2023, reflecting a 49% increase. The current revision in 2024 has set the guideline value at Rs 7,100 per sq.ft, which is a 9% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 255%.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value of Mosque Street is below this median.

• Moores Road: Rs 9,900 per sq.ft (2024)
• Moores Lane (Slum): Rs 5,500 per sq.ft (2024)
• Mohan Kumaramangalam Road: Rs 12,600 per sq.ft (2024)
• Model School Road: Rs 11,500 per sq.ft (2024)
• Murali Street: Rs 7,700 per sq.ft (2024)
• Muthusamy Street: Rs 7,100 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 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total to Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mosque Street?

Mosque Street is covered by the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, crescent Street Alwarpet, Chennai -600018. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nungambakkam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

When a property is sold, the guideline value is used to calculate the necessary fees, ensuring that the transaction is recorded accurately and in compliance with local regulations. Buyers and sellers should be aware of the current guideline value to understand their financial obligations 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 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 255% over the years.

What is the registration office for Mosque Street?

The registration office for Mosque Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, crescent Street Alwarpet, Chennai -600018.

How is stamp duty calculated for properties in Mosque Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would amount to Rs 4,97,000.

What are the guideline values of other streets in Nungambakkam?

Other streets in Nungambakkam have varying guideline values. For example, Moores Road is valued at Rs 9,900 per sq.ft, while Moores Lane (Slum) is at Rs 5,500 per sq.ft.