Guideline Value for Mothilal Street

Mothilal Street guideline value

The current guideline value of Mothilal Street in Irumpuliyur village, under the Tambaram Joint 1 SRO, is Rs 2,530 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Special Type - I.

How the guideline value of Mothilal Street has changed

The guideline value for Mothilal Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 600 per sq.ft. This increased significantly to Rs 2,300 per sq.ft in 2012, before dropping to Rs 1,541 per sq.ft in 2017. The 2023 revision saw a rise to Rs 2,300 per sq.ft, and the most recent 2024 revision has further increased it to Rs 2,530 per sq.ft. Notably, there are no figures available for the 2002 and 2003 revisions for this street.

From 2007 to 2024, the overall increase in the guideline value is 322%. The changes between the revisions include a 283% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% rise from 2023 to 2024.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 6,600 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, making Mothilal Street's 2024 figure above this median.

• MS.P. Lane: Rs 2,530 per sq.ft (2024)
• Mullai Avenue: Rs 2,200 per sq.ft (2024)
• Middle Street: Rs 1,320 per sq.ft (2024)
• Murugesan Street: Rs 2,530 per sq.ft (2024)
• Muthamil Street: Rs 2,530 per sq.ft (2024)
• M.E.S Road 3rd Cross Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Mothilal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total to Rs 2,27,700. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mothilal Street?

The Sub Registrar Office that covers Mothilal Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Irumpuliyur. It serves as a base for calculating stamp duty and registration fees during the registration process. Buyers and sellers must consider this value to ensure compliance with legal requirements and accurate financial planning.

When a property is sold, the guideline value helps determine the official valuation for taxation purposes. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Mothilal Street?

The current guideline value of Mothilal Street is Rs 2,530 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 2,530 per sq.ft in 2024, marking an overall increase of 322% over the years.

What is the median guideline value in Irumpuliyur?

The median guideline value in Irumpuliyur is Rs 2,200 per sq.ft, with Mothilal Street's 2024 figure being above this median.

What are the stamp duty and registration fees for Mothilal Street?

For a property valued at Rs 25,30,000, the stamp duty would be Rs 1,77,100 and the registration fee would be Rs 50,600, totaling Rs 2,27,700.

Which office handles registrations for Mothilal Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Mothilal Street, located at No.26, MES Road, East Tambaram, Chennai-600059.