Guideline Value for MOHAN STREET

Mohan Street guideline value

The current guideline value of Mohan Street in Perumalagaram village is Rs 3,190 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class V Type - I.

How the guideline value of Mohan Street has changed

The guideline value for Mohan Street has undergone several revisions over the years. In 2012, the value was Rs 2,900 per sq.ft, which decreased to Rs 1,943 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,900 per sq.ft in 2023, and currently stands at Rs 3,190 per sq.ft from the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, there was a substantial increase of 49%, followed by a 10% increase from 2023 to 2024. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Perumalagaram

In Perumalagaram, there are 74 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 825 to Rs 7,920 per sq.ft. The median guideline value is Rs 3,190 per sq.ft, which is the same as the current figure for Mohan Street.

• Nambi Street: Rs 3,190 per sq.ft (2024)
• Nandakumar Street: Rs 3,190 per sq.ft (2024)
• Mahalakshmi Street: Rs 3,190 per sq.ft (2024)
• Mahalakshmi Nagar Extension VI: Rs 3,190 per sq.ft (2024)
• Mahalakshmi Nagar Extension V: Rs 3,190 per sq.ft (2024)
• Mahalakshmi Nagar Extension IV: Rs 3,190 per sq.ft (2024)

Stamp duty and registration fee for property in Mohan Street

For a 1,000 sq.ft plot at the current rate of Rs 3,190 per sq.ft, the guideline value totals Rs 31,90,000. The stamp duty at 7% amounts to Rs 2,23,300, while the registration fee at 2% is Rs 63,800. Together, the total cost for stamp duty and registration fees would be Rs 2,87,100. It's important to note that 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 more details.

Which Sub Registrar Office covers Mohan Street?

The Sub Registrar Office that covers Mohan Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Perumalagaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two figures is used to calculate the applicable fees. This ensures that the government collects the appropriate amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mohan Street?

The current guideline value of Mohan Street is Rs 3,190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,900 per sq.ft in 2012 to Rs 1,943 per sq.ft in 2017, then increased to Rs 2,900 per sq.ft in 2023, and is now Rs 3,190 per sq.ft in 2024.

What is the land classification for Mohan Street?

Mohan Street is classified as Residential Class V Type - I under the Chennai South Joint II SRO.

What are the other streets with the same guideline value?

Other streets in Perumalagaram with the same 2024 guideline value of Rs 3,190 per sq.ft include Nambi Street, Nandakumar Street, Mahalakshmi Street, and several Mahalakshmi Nagar Extensions.

Where can I find the Sub Registrar Office for Mohan Street?

The Sub Registrar Office for Mohan Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.