Guideline Value for Mohammed Ali Nagar

Mohammed Ali Nagar guideline value

The current guideline value of Mohammed Ali Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024. This area is part of Mangadu -A village, under the Kunrathur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Mohammed Ali Nagar has changed

The guideline value for Mohammed Ali Nagar has undergone several revisions over the years. In the 2017 revision, the value was set at Rs 1,072 per sq.ft. This figure increased significantly to Rs 1,600 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 saw the guideline value reach Rs 1,760 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, there has been a total increase of 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median value of Rs 1,870 per sq.ft. The guideline value for Mohammed Ali Nagar is below this median.

• Murugan Ambal Nagar: Rs 1,980 per sq.ft (2024)
• Murugan Nagar: Rs 2,090 per sq.ft (2024)
• Mettu Street Ist Street: Rs 1,980 per sq.ft (2024)
• Mettu Street IInd Street: Rs 1,980 per sq.ft (2024)
• Mel Ragunathapuram: Rs 1,980 per sq.ft (2024)
• Melma Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mohammed Ali Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total cost for these fees to Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mohammed Ali Nagar?

The Sub Registrar Office that covers Mohammed Ali Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value is a critical factor when registering property transactions in Mangadu -A. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is bought or sold, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Mohammed Ali Nagar?

The current guideline value of Mohammed Ali Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,072 per sq.ft in 2017 to Rs 1,760 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the stamp duty rates for property in Mohammed Ali Nagar?

The stamp duty rate for property in Mohammed Ali Nagar is 7%. For a property valued at Rs 17,60,000, the stamp duty would amount to Rs 1,23,200.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It acts as a benchmark for calculating the financial obligations when buying or selling property.