Guideline Value for Mosque Street

Mosque Street guideline value

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

How the guideline value of Mosque Street has changed

The guideline value for Mosque Street has seen 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, the 2024 revision has increased the guideline value to Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

There are several years for which the register has no figure for this street, including 2002, 2003, 2007, and 2017. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%.

Guideline values in Madhavaram

Madhavaram village contains a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in the village is Rs 1,600 per sq.ft, indicating that Mosque Street's 2024 figure is below this median.

• Mosque Street (Periyar Nagar): Rs 1,300 per sq.ft (2024)
• Mosque Street Storeline (Ward-20): 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)
• Moolachatram Main Road: Rs 1,600 per sq.ft (2024)
• Moolachathiram Main Road (Ward-02): Rs 1,600 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 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, bringing the total cost to 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 use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Mosque Street?

The Mosque Street falls under the jurisdiction of 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 in property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring a standard valuation across the area.

When a buyer or seller engages in a transaction, the guideline value is used to calculate applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Mosque Street?

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

How has the guideline value changed over the years?

The guideline value for Mosque Street has changed from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 8% over this period.

What is the registration office for Mosque Street?

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

How is stamp duty calculated for properties in Madhavaram?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.

What are the other streets in Madhavaram with similar guideline values?

Other streets in Madhavaram with similar guideline values include Mosque Street (Periyar Nagar) and Mosque Street Storeline (Ward-20), both at Rs 1,300 per sq.ft in 2024.