Guideline Value for Mothilal Street

Mothilal Street guideline value

The current guideline value of Mothilal Street is Rs 2,640 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village and falls under the Padappai SRO. The land classification for this area is Residential Class I 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 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 2,400 per sq.ft in 2012, marking a 700% rise. However, from 2012 to 2017, the value decreased to Rs 1,608 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 2,400 per sq.ft in 2023, a 49% increase, and further increased to the current value of Rs 2,640 per sq.ft in 2024, which is a 10% rise.

It is important to note that there are no figures available for Mothilal Street in the revisions for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 780%.

Guideline values in Perungalathur

In Perungalathur village, there are 411 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,310 per sq.ft, placing Mothilal Street's value above this median.

• Mooventhar Nagar: Rs 2,970 per sq.ft (2024)
• MOOVENDHAR NAGAR EXTN 9th and 11th Street: Rs 3,960 per sq.ft (2024)
• Moovendhar Nagar Extn: Rs 2,970 per sq.ft (2024)
• Moonstone Villas: Rs 2,640 per sq.ft (2024)
• Moolai Theru: Rs 2,310 per sq.ft (2024)
• MRK Nagar: Rs 1,650 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 2,640 per sq.ft, the total guideline value would be Rs 26,40,000. The stamp duty at 7% would amount to Rs 1,84,800, while the registration fee at 2% would be Rs 52,800. Together, these fees would total Rs 2,37,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Mothilal Street?

The Sub Registrar Office covering Mothilal Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Perungalathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential for completing the legal formalities of the transaction. Buyers and sellers must consider this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Mothilal Street?

The current guideline value of Mothilal Street is Rs 2,640 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 300 per sq.ft in 2007 to Rs 2,640 per sq.ft in 2024, reflecting an overall increase of 780%.

What is the stamp duty for properties on Mothilal Street?

The stamp duty for properties on Mothilal Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Mothilal Street?

The Sub Registrar Office for Mothilal Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What are the other streets in Perungalathur with their guideline values?

Other streets in Perungalathur include Mooventhar Nagar at Rs 2,970 per sq.ft, MOOVENDHAR NAGAR EXTN 9th and 11th Street at Rs 3,960 per sq.ft, and others listed above.