Guideline Value for Mothchapuram 3rd street

Mothchapuram 3rd street guideline value

The current guideline value of Mothchapuram 3rd street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class II Type - I.

How the guideline value of Mothchapuram 3rd street has changed

Since 2012, the guideline value for Mothchapuram 3rd street has seen several revisions. In 2012, the value was Rs 1,200 per sq.ft, which 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 further rose to Rs 1,300 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

Between the revisions, the changes were notable: from 2012 to 2017, there was a decrease of 33%, while from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

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 is Rs 1,600 per sq.ft, placing Mothchapuram 3rd street's 2024 value below this median.

• Mothchapuram 2nd street: Rs 1,300 per sq.ft (2024)
• Mothchapuram 4th street: Rs 1,300 per sq.ft (2024)
• Mothchapuram 1st 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 3rd street

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to 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, totaling Rs 1,17,000. 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 additional calculations.

Which Sub Registrar Office covers Mothchapuram 3rd street?

The Sub Registrar Office that covers Mothchapuram 3rd 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 information.

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

The guideline value is a crucial factor in 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 revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the legal framework surrounding property transactions. It is important for buyers to be aware of the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Mothchapuram 3rd street?

The current guideline value of Mothchapuram 3rd 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 increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 1,300 per sq.ft, the stamp duty is 7%, amounting to Rs 91,000, and the registration fee is 2%, amounting to Rs 26,000. The total fees would be Rs 1,17,000.

Which office handles property registrations for Mothchapuram 3rd street?

The Royapuram Sub Registrar Office handles property registrations for Mothchapuram 3rd street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification for Mothchapuram 3rd street?

Mothchapuram 3rd street is classified as Residential Class II Type - I, indicating its suitability for residential purposes under the local regulations.