Guideline Value for South Mosque Street

South Mosque Street guideline value

The current guideline value of South 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 South Mosque Street has changed

The guideline value for South Mosque Street has undergone several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a substantial rise of 275%. However, it saw a decrease to Rs 1,005 per sq.ft in 2017, which was a decline of 33%. The value then rose to Rs 1,500 per sq.ft in 2023, and most recently, it has increased by 10% to the current value of Rs 1,650 per sq.ft as of the 2024 revision.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. 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 a 2024 guideline value 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, placing South Mosque Street's 2024 figure below the median.

• Somu Nagar: Rs 3,300 per sq.ft (2024)
• Sivagamiammal Colony 2nd M. Road: Rs 2,970 per sq.ft (2024)
• Sivagamiammal Colony 2nd Cross St.: Rs 2,970 per sq.ft (2024)
• Sivagamiammal Colony 1st M. Road: Rs 2,970 per sq.ft (2024)
• Sivagamiammal Colony 1st Cross St.: Rs 2,970 per sq.ft (2024)
• Sivagamiammal Colony: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in South 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 would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling 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.

You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers South Mosque Street?

The Sub Registrar Office that covers South 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 information.

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

The guideline value is a crucial factor in property transactions, as it determines the basis for calculating stamp duty and registration fees. When you buy or sell property in Hastinapuram, the guideline value is used to assess the taxes payable at the time of registration.

It is essential to be aware that the guideline value is updated periodically, and potential buyers and sellers should check the latest figures to ensure compliance with the current regulations during the transaction process.

Frequently asked questions

What is the current guideline value of South Mosque Street?

The current guideline value of South 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, representing an overall increase of 313% over the years.

What is the land classification for South Mosque Street?

South Mosque Street is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for South Mosque Street?

The Sub Registrar Office for South Mosque Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for properties in South Mosque Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,15,500.