Guideline Value for Mothchapuram 6th street

Mothchapuram 6th street guideline value

The current guideline value of Mothchapuram 6th 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 6th street has changed

The guideline value for Mothchapuram 6th street has undergone several revisions over the years. The earliest recorded revision in 2007 set the value at Rs 600 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, marking a 100% rise. However, in the 2017 revision, the value dropped to Rs 804 per sq.ft, which was a decrease of 33%. The most recent revision in 2024 has set the guideline value at Rs 1,300 per sq.ft, reflecting a substantial increase of 62% from the previous figure.

It is important to note that the register does not have figures for the years 2023, 2003, and 2002 for Mothchapuram 6th street. Overall, from 2007 to 2024, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with the 2024 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, indicating that Mothchapuram 6th street's 2024 figure is below the median.

• Mothchapuram 5th street: Rs 1,300 per sq.ft (2024)
• Mothchapuram 4th street: Rs 1,300 per sq.ft (2024)
• Mothchapuram 3rd street: Rs 1,300 per sq.ft (2024)
• Mothchapuram 2nd street: Rs 1,300 per sq.ft (2024)
• Mothchapuram 1st 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 6th street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total 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, resulting in a total cost of Rs 1,17,000. It is important to note that the 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 Mothchapuram 6th street?

The Sub Registrar Office that covers Mothchapuram 6th 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 plays a crucial role in the registration process when buying or selling property in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the government receives appropriate revenue through stamp duty and registration fees based on the guideline value.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is fairly assessed for tax purposes.

Frequently asked questions

What is the current guideline value of Mothchapuram 6th street?

The current guideline value of Mothchapuram 6th 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 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 117% over the years.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office is responsible for Mothchapuram 6th street?

The Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021, is responsible for Mothchapuram 6th street.

What is the significance of the guideline value in property transactions?

The guideline value is used as a benchmark for calculating stamp duty and registration fees during property transactions, ensuring that the government receives appropriate revenue based on the property's assessed value.