Guideline Value for Mount Street

Mount Street guideline value

The current guideline value of Mount Street in Kadaperi village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class II Type - I.

How the guideline value of Mount Street has changed

The guideline value for Mount Street has seen several revisions over the years. The earliest registered figure is from 2007, where the value was Rs 400 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in 2012, marking a 150% rise. However, in 2017, the value decreased to Rs 670 per sq.ft, which was a decline of 33%. The value then increased again to Rs 1,000 per sq.ft in 2023, and most recently, it has risen to Rs 1,100 per sq.ft in 2024, reflecting a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 175%. The changes between revisions highlight the fluctuations in the guideline value over the years, with substantial increases and a notable decrease in 2017.

Guideline values in Kadaperi

In Kadaperi, there are 142 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 7,700 per sq.ft, with a median of Rs 1,650 per sq.ft. The guideline value of Mount Street is below this median.

• Moulana Nagar 9 th Street: Rs 1,650 per sq.ft (2024)
• Moulana Nagar 8 th Street: Rs 1,650 per sq.ft (2024)
• Moulana Nagar 7 th Street: Rs 1,650 per sq.ft (2024)
• Moulana Nagar 6 th Street: Rs 1,650 per sq.ft (2024)
• Moulana Nagar 5 th Street: Rs 1,650 per sq.ft (2024)
• Moulana Nagar 4 th Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Mount Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mount Street?

The Sub Registrar Office that covers Mount 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 Kadaperi

The guideline value plays a crucial role in property transactions in Kadaperi. It is the minimum value set by the government for registration purposes, ensuring that properties are sold at a fair price. When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees required for the transaction.

During the registration process, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Mount Street?

The current guideline value of Mount Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 175% over the years.

What is the land classification for Mount Street?

Mount Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

What is the median guideline value in Kadaperi?

The median guideline value in Kadaperi is Rs 1,650 per sq.ft, with Mount Street's value being below this median.

Where is the Sub Registrar Office for Mount Street located?

The Sub Registrar Office covering Mount Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.