Guideline Value for Mosque Streets

Mosque Streets guideline value

The current guideline value of Mosque Streets in Hastinapuram village, under the Pallavaram SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Mosque Streets has changed

The guideline value for Mosque Streets has seen several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a rise of 275%. However, this value decreased to Rs 1,005 per sq.ft in 2017, a decline of 33%. The subsequent revision in 2023 brought the value to Rs 1,500 per sq.ft, followed by the current value of Rs 1,650 per sq.ft from 2024, which reflects a 10% increase.

It is important to note that the register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, placing the guideline value of Mosque Streets below this median.

• Mosque Works Street: Rs 1,650 per sq.ft (2024)
• M.T.L.P. Colony: Rs 2,970 per sq.ft (2024)
• Mithila Nagar: Rs 1,650 per sq.ft (2024)
• M.I.T. Gate Border Road: Rs 2,970 per sq.ft (2024)
• Millath Nagar: Rs 2,970 per sq.ft (2024)
• M.G.R. Nagar: Rs 2,380 per sq.ft (2024)

Stamp duty and registration fee for property in Mosque Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty, charged at 7%, would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Together, the total cost for these charges would be Rs 1,48,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mosque Streets?

The Mosque Streets are covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Hastinapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall costs involved in the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Mosque Streets?

The current guideline value of Mosque Streets is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 313% over the years.

What is the stamp duty for property in Mosque Streets?

The stamp duty for property in Mosque Streets is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Mosque Streets?

The land classification for Mosque Streets is Residential Class III Type - I.