Guideline Value for Motharappa Venkatasamy Street

Motharappa Venkatasamy Street guideline value

The current guideline value of Motharappa Venkatasamy Street is Rs 7,100 per sq.ft. This street is located in Egmore village, under the Periamet SRO, classified as Residential Class II Type - I.

How the guideline value of Motharappa Venkatasamy Street has changed

Over the years, the guideline value of Motharappa Venkatasamy Street has seen significant changes. The earliest recorded figure is from 2003, at Rs 501 per sq.ft. This increased to Rs 1,000 per sq.ft in 2007, marking a 100% rise. In 2012, the value was Rs 6,500 per sq.ft, which was a substantial increase of 550% from the previous revision. However, in 2017, it dropped to Rs 4,355 per sq.ft, reflecting a decrease of 33%. The value then rose again to Rs 6,500 per sq.ft in 2023 and finally reached Rs 7,100 per sq.ft in the 2024 revision, showing a 9% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1317%. It is important to note that the register has no figure for Motharappa Venkatasamy Street in 2002.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 22,000 per sq.ft, with the median value being Rs 7,100 per sq.ft. Motharappa Venkatasamy Street's 2024 figure aligns with this median.

• Mothibaba Lane: Rs 13,400 per sq.ft (2024)
• Montieth Road: Rs 13,400 per sq.ft (2024)
• Montieth Lane: Rs 13,400 per sq.ft (2024)
• Muktha Garden: Rs 13,400 per sq.ft (2024)
• Muniya Pillai Street: Rs 7,100 per sq.ft (2024)
• Munusamy Lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Motharappa Venkatasamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total cost for these fees to Rs 6,39,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Motharappa Venkatasamy Street?

The Sub Registrar Office that covers Motharappa Venkatasamy 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 Egmore

The guideline value is a crucial factor when registering property transactions in Egmore. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for taxation purposes.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal ownership transfer. Buyers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Motharappa Venkatasamy Street?

The current guideline value of Motharappa Venkatasamy Street is Rs 7,100 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 501 per sq.ft in 2003 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 1317% over the years.

Where can I find the Sub Registrar Office for Motharappa Venkatasamy Street?

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

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 6,39,000.

What is the land classification of Motharappa Venkatasamy Street?

Motharappa Venkatasamy Street is classified as Residential Class II Type - I, which is relevant for determining the guideline value and other property-related regulations.