Guideline Value for Mosque Works Street

Mosque Works Street guideline value

The current guideline value of Mosque Works Street in Hastinapuram village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Mosque Works Street has changed

The guideline value for Mosque Works Street has seen several revisions over the years. In 2007, the 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, from 2012 to 2017, the value decreased by 33% to Rs 1,005 per sq.ft. The subsequent revision in 2023 brought the value up to Rs 1,500 per sq.ft, and the latest revision in 2024 saw it increase to Rs 1,650 per sq.ft, representing a 10% rise.

Notably, there are no figures available 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, with a median value of Rs 2,970 per sq.ft. Mosque Works Street's guideline value is below this median.

• Mosque Streets: 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 Works Street

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 at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mosque Works Street?

The Mosque Works Street falls under the jurisdiction of the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 is a crucial factor 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 duty and registration fees.

When buying or selling property, the guideline value helps establish a fair price for the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring transparency in property dealings.

Frequently asked questions

What is the current guideline value of Mosque Works Street?

The current guideline value of Mosque Works Street 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 registration office for Mosque Works Street?

The registration office for Mosque Works Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would amount to Rs 1,15,500.

What are the other streets in Hastinapuram with their guideline values?

Other streets in Hastinapuram include Mosque Streets, Mithila Nagar, M.T.L.P. Colony, M.I.T. Gate Border Road, Millath Nagar, and M.G.R. Nagar, with guideline values ranging from Rs 1,650 to Rs 2,970 per sq.ft in 2024.