Guideline Value for North Mosque Street

North Mosque Street guideline value

The current guideline value of North Mosque Street in Hastinapuram village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of North Mosque Street has changed

The guideline value for North Mosque Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 400 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a 275% rise. However, in 2017, the value decreased to Rs 1,005 per sq.ft, a drop of 33%. The value then increased to Rs 1,500 per sq.ft in 2023, followed by a further increase to Rs 1,650 per sq.ft in 2024, which is a 10% rise from the previous year.

There are no recorded figures for North Mosque Street in the revisions of 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 2,970 per sq.ft, indicating that North Mosque Street's 2024 figure is below this median.

• N.S.R.Road: Rs 2,970 per sq.ft (2024)
• N.G.O. Colony: Rs 2,970 per sq.ft (2024)
• New Street Nagar: Rs 2,970 per sq.ft (2024)
• Nethaji Nagar 3rd Cross Street: Rs 2,380 per sq.ft (2024)
• Nethaji Nagar 2nd Cross Street: Rs 2,380 per sq.ft (2024)
• Nethaji Nagar 1st Cross Street: Rs 2,380 per sq.ft (2024)

Stamp duty and registration fee for property in North Mosque Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value is Rs 16,50,000. The stamp duty at 7% amounts to Rs 1,15,500, and the registration fee at 2% is Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers North Mosque Street?

The Sub Registrar Office that covers North Mosque Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration process when buying or selling property. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately for taxation purposes.

When a property is sold, the buyer and seller must consider the guideline value to calculate applicable fees, including stamp duty and registration charges. This ensures that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of North Mosque Street?

The current guideline value of North Mosque Street is Rs 1,650 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 1,650 per sq.ft in 2024, reflecting an overall increase of 313% over the years.

What is the median guideline value in Hastinapuram?

The median guideline value in Hastinapuram is Rs 2,970 per sq.ft, with North Mosque Street's 2024 figure being below this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles registrations for North Mosque Street?

The Pallavaram Sub Registrar Office handles registrations for North Mosque Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.