Guideline Value for Mosque Street

Mosque Street guideline value

The current guideline value of Mosque Street 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 Mosque Street has changed

The guideline value for Mosque Street has seen several revisions over the years. In 2002, the value was Rs 278 per sq.ft, which increased to Rs 348 per sq.ft in 2003, marking a 25% rise. The value then jumped significantly to Rs 800 per sq.ft in 2007, reflecting a 130% increase. Following this, the value surged to Rs 3,000 per sq.ft in 2012, representing a remarkable 275% increase. However, it then decreased to Rs 2,010 per sq.ft in 2017, showing a decline of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,087%. There are no figures available for the revisions in years other than those listed above.

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. The median guideline value for these streets is Rs 3,850 per sq.ft, placing Mosque Street's 2024 figure below this median.

• Mount Poobamallee Road: Rs 7,700 per sq.ft (2024)
• Mokshin Road: Rs 3,300 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 Mosque Street

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 amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees together 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 details.

Which Sub Registrar Office covers Mosque Street?

The Sub Registrar Office that covers Mosque Street 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 critical factor during the registration of property transactions in Parangimalai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Mosque Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 278 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1,087%.

What is the median guideline value for streets in Parangimalai?

The median guideline value for streets in Parangimalai is Rs 3,850 per sq.ft, which is higher than the current value of Mosque Street.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Mosque Street?

The Chennai South Joint II Sub Registrar Office handles registrations for Mosque Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.