Guideline Value for MOTHI NAGAR

Mothi Nagar guideline value

The current guideline value of Mothi Nagar, located in Karambakkam village, is Rs 1,930 per sq.ft, effective from the 2024 revision. This area falls under the Chennai South Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Mothi Nagar has changed

The guideline value for Mothi Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 244 per sq.ft, which increased to Rs 281 per sq.ft in 2003. Following this, the value rose to Rs 500 per sq.ft in 2007, and then it surged to Rs 1,750 per sq.ft in 2012. However, there was a decrease to Rs 1,172 per sq.ft in 2017. The value then increased to Rs 1,750 per sq.ft in 2023, and currently stands at Rs 1,930 per sq.ft from the 2024 revision.

When examining the changes between these revisions, the increase from 2017 to 2023 was 49%, while the jump from 2012 to 2017 was a decrease of 33%. The rise from 2007 to 2012 was substantial at 250%, and the increase from 2003 to 2007 was 78%. The guideline value saw a 15% increase from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 691%.

Guideline values in Karambakkam

Within Karambakkam, there are 159 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median value is Rs 1,930 per sq.ft, which is the same as the current guideline value for Mothi Nagar.

• Mothi Nagar 1st Street: Rs 1,930 per sq.ft (2024)
• Mothi Nagar 2nd Street: Rs 1,930 per sq.ft (2024)
• Mothi Nagar Main Road: Rs 1,930 per sq.ft (2024)
• Mount Poonamallee Trunk Road: Rs 5,500 per sq.ft (2024)
• Metha Nagar: Rs 1,930 per sq.ft (2024)
• Maragatham Nagar: Rs 1,930 per sq.ft (2024)

Stamp duty and registration fee for property in Mothi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,930 per sq.ft, the total guideline value would be Rs 19,30,000. The stamp duty, charged at 7%, would amount to Rs 1,35,100, while the registration fee at 2% would be Rs 38,600. Together, these fees would total Rs 1,73,700. 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 more precise calculations.

Which Sub Registrar Office covers Mothi Nagar?

The Sub Registrar Office that covers Mothi Nagar is the Chennai South Joint I 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 Karambakkam

The guideline value is a critical factor when registering property in Karambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware that the guideline value will influence the overall cost of registration.

When a property is sold, the registration office will use the guideline value to calculate the applicable duties. This ensures that the transaction is recorded accurately and fairly according to the established rates.

Frequently asked questions

What is the current guideline value of Mothi Nagar?

The current guideline value of Mothi Nagar is Rs 1,930 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 244 per sq.ft in 2002 to Rs 1,930 per sq.ft in 2024, reflecting an overall increase of 691% over this period.

What factors influence the stamp duty and registration fees?

The stamp duty and registration fees are influenced by the guideline value of the property, which serves as a basis for calculating these costs during a transaction.

Where can I find the Sub Registrar Office for Mothi Nagar?

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

How can I calculate my stamp duty and registration fees?

You can calculate your stamp duty and registration fees using the stamp duty and registration fee calculator available online.