Guideline Value for Mosque Street

Mosque Street guideline value

The current guideline value of Mosque Street in Vepery village, under the Periamet SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class III Type - III.

How the guideline value of Mosque Street has changed

Over the years, the guideline value of Mosque Street has seen several revisions. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% increase. However, the value dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The 2023 revision brought the value back up to Rs 3,000 per sq.ft, and the most recent revision in 2024 has set it at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

In summary, from the 2017 revision to 2024, the overall increase in the guideline value is 230% from the 2007 revision. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median guideline value in this area is Rs 4,800 per sq.ft, indicating that Mosque Street's 2024 figure is below this median.

• Mothilal Nehru Street: Rs 2,700 per sq.ft (2024)
• Mothilal Street: Rs 2,700 per sq.ft (2024)
• Munusamy Street: Rs 4,800 per sq.ft (2024)
• Muthugramani Street: Rs 6,000 per sq.ft (2024)
• Mekpor Lane: Rs 4,400 per sq.ft (2024)
• Nabhikhan Subedhar Street: Rs 6,000 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, while the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mosque Street?

The Sub Registrar Office covering Mosque Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

When buying or selling property in Vepery, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is used as a reference point for calculating these costs, ensuring that they are aligned with the official valuation set by the Registration Department.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of property transactions. Accurate knowledge of these values can help in planning the financial aspects of buying or selling real estate in the area.

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 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 230% over this period.

What is the land classification for Mosque Street?

Mosque Street is classified as Residential Class III Type - III under the current guidelines.

Where can I find the Sub Registrar Office for Mosque Street?

The Sub Registrar Office for Mosque Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Mosque Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000.