Guideline Value for Mohamed Nagar

Mohamed Nagar guideline value

The current guideline value of Mohamed Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This street is located in Vadakal_C village, under the Sriperumpudur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Mohamed Nagar has changed

The guideline value for Mohamed Nagar has seen several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent revisions show that in 2023, the guideline value was Rs 200 per sq.ft, and it increased to Rs 300 per sq.ft in 2024, reflecting a change of +50%.

Prior to the 2023 revision, there was no recorded guideline value for this street. The 2024 figure of Rs 300 per sq.ft is below the median value of Rs 400 per sq.ft for the 61 streets in Vadakal_C under the Sriperumpudur SRO.

Guideline values in Vadakal_C

In Vadakal_C, the guideline values range from Rs 150 to Rs 1,500 per sq.ft, with a median of Rs 400 per sq.ft. Mohamed Nagar's guideline value is below this median. The following are the guideline values for other streets in Vadakal_C:

• M.G.R.Nagar: Rs 400 per sq.ft (2024)
• Melmaruvathur Adiparasakthi Nagar: Rs 550 per sq.ft (2024)
• Mariyamman Koil Street: Rs 200 per sq.ft (2024)
• Mahidhara supreme classic: Rs 1,200 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 550 per sq.ft (2024)
• Kumaran nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Mohamed Nagar

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. It is 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 Mohamed Nagar?

The Sub Registrar Office that covers Mohamed Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vadakal_C. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Mohamed Nagar?

The current guideline value of Mohamed Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 200 per sq.ft in 2023 to Rs 300 per sq.ft in 2024, marking a change of +50%. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Vadakal_C?

The median guideline value in Vadakal_C is Rs 400 per sq.ft. Mohamed Nagar's current guideline value is below this median.

What are the stamp duty and registration fees for property in Mohamed Nagar?

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 and the registration fee would be Rs 6,000, totaling Rs 27,000. These fees are calculated based on the higher of the guideline value or the sale price.

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

The Sub Registrar Office for Mohamed Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.