Guideline Value for Mosque Street

Mosque Street guideline value

The current guideline value of Mosque Street in Nallur village, under the Redhills SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Mosque Street has changed

The guideline value for Mosque Street has undergone several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, it saw a decrease to Rs 335 per sq.ft in 2017. The value then rose significantly to Rs 500 per sq.ft in 2023, and most recently, it has been revised to Rs 550 per sq.ft in 2024, marking a 10% increase from the previous year.

In summary, the changes between revisions are as follows: from 2007 to 2012, there was an increase of 67%; from 2012 to 2017, a decrease of 33%; from 2017 to 2023, an increase of 49%; and from 2023 to 2024, an increase of 10%. Overall, the guideline value has increased by 83% from 2007 to 2024. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nallur

Nallur village has 39 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,650 per sq.ft, with the median value being Rs 550 per sq.ft. The guideline value for Mosque Street aligns with this median.

• New Chengalamman Nagar: Rs 440 per sq.ft (2024)
• Lakshmi Nagar: Rs 440 per sq.ft (2024)
• Padavattamman Koil 1st Cross Street: Rs 770 per sq.ft (2024)
• Padavattamman Koil Street: Rs 770 per sq.ft (2024)
• Perumal Koil Street: Rs 770 per sq.ft (2024)
• Kesava Reddy Street: Rs 770 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 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, while the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. 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 information.

Which Sub Registrar Office covers Mosque Street?

The Sub Registrar Office that covers Mosque Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling properties in Nallur. It serves as a basis for calculating the stamp duty and registration fees, which are mandatory costs associated with property transactions.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Mosque Street?

The current guideline value of Mosque Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 83% over this period.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total fees would be Rs 49,500.

Which Sub Registrar Office handles transactions for Mosque Street?

The Redhills Sub Registrar Office handles transactions for Mosque Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification of Mosque Street?

Mosque Street is classified as Residential Class II Type - I, indicating its intended use for residential purposes.