Guideline Value for Mohamed quarters

Mohamed quarters guideline value

The current guideline value of Mohamed quarters in Poonthamallee village, under the Poonamallee SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Mohamed quarters has changed

The guideline value for Mohamed quarters has seen significant changes over the years. In 2007, the value was Rs 300 per sq.ft, which increased dramatically to Rs 2,000 per sq.ft in 2012, marking a rise of 567%. However, it then decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. The value further increased to Rs 2,000 per sq.ft in 2023, followed by a 10% rise to the current value of Rs 2,200 per sq.ft in 2024.

From 2017 to 2023, the value rose by 49%. Overall, from 2007 to 2024, there has been an increase of 633%. It is important to note that the register has no figures for the revisions in 2002 and 2003 for this street.

Guideline values in Poonthamallee

In Poonthamallee, there are 257 streets under the Poonamallee SRO, with 2024 guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the current guideline value of Mohamed quarters.

• Mohana nagar: Rs 2,200 per sq.ft (2024)
• M.M.Nagar: Rs 2,200 per sq.ft (2024)
• Mudthal board school varai: Rs 2,200 per sq.ft (2024)
• Mulla thottam: Rs 2,200 per sq.ft (2024)
• Munikrishna nagar: Rs 2,200 per sq.ft (2024)
• MGR nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mohamed quarters

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost Rs 1,98,000. 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 details.

Which Sub Registrar Office covers Mohamed quarters?

The Sub Registrar Office that covers Mohamed quarters is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Poonthamallee. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value helps in assessing the legal and financial implications of the transaction. It is crucial for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Mohamed quarters?

The current guideline value of Mohamed quarters is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 300 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 633% over the years.

What is the land classification of Mohamed quarters?

Mohamed quarters is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Mohamed quarters located?

The Sub Registrar Office for Mohamed quarters is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.