Guideline Value for Mothchapuram 2nd street

Mothchapuram 2nd street guideline value

The current guideline value of Mothchapuram 2nd street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Mothchapuram 2nd street has changed

The guideline value for Mothchapuram 2nd street has seen several revisions over the years. In 2012, the value was Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and has now reached Rs 1,300 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figure for Mothchapuram 2nd street for the years 2002, 2003, and 2007.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, which means that the 2024 guideline value for Mothchapuram 2nd street is below this median.

• Mothchapuram 1st street: Rs 1,300 per sq.ft (2024)
• Mothchapuram 3rd street: Rs 1,300 per sq.ft (2024)
• Mothchapuram 4th street: Rs 1,300 per sq.ft (2024)
• Mothchapuram 5th street: Rs 1,300 per sq.ft (2024)
• Mothchapuram 6th street: Rs 1,300 per sq.ft (2024)
• Mottai Garden 10th Lane: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mothchapuram 2nd street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost together to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mothchapuram 2nd street?

The Sub Registrar Office that covers Mothchapuram 2nd street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration process of property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property, which is essential for both buyers and sellers to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Mothchapuram 2nd street?

The current guideline value of Mothchapuram 2nd street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification of Mothchapuram 2nd street?

Mothchapuram 2nd street is classified as Residential Class II Type - I.

What are the other streets in Tondaiarpet with similar guideline values?

Other streets in Tondaiarpet with a guideline value of Rs 1,300 per sq.ft in 2024 include Mothchapuram 1st, 3rd, 4th, 5th, and 6th streets.

Where is the Royapuram Sub Registrar Office located?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.