Guideline Value for Mohan Avenue Phase I

Mohan Avenue Phase I guideline value

The current guideline value of Mohan Avenue Phase I is Rs 550 per sq.ft, effective from 1 July 2024. This property is located in Puthur village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - II.

How the guideline value of Mohan Avenue Phase I has changed

The guideline value for Mohan Avenue Phase I has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 550 per sq.ft, an increase from Rs 500 per sq.ft in the 2023 revision, marking a 10% rise. Prior to that, in 2017, the value was Rs 335 per sq.ft, which reflects a significant 49% increase from that year to 2023. The 2012 revision also recorded a value of Rs 500 per sq.ft, but this was a decrease of 33% compared to the 2017 figure. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%. This historical data illustrates the fluctuations in the guideline value over the years, with the most notable change occurring between 2017 and 2023.

Guideline values in Puthur

Puthur village has a total of 63 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 4,600 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing Mohan Avenue Phase I's 2024 figure below that median.

• M.K Avenue: Rs 770 per sq.ft (2024)
• M.S Garden: Rs 550 per sq.ft (2024)
• Murugan Avenue Phase I: Rs 1,100 per sq.ft (2024)
• Murugan Avenue Phase II: Rs 1,100 per sq.ft (2024)
• Murugan Avenue Phase III: Rs 1,100 per sq.ft (2024)
• Murugan Avenue Phase IV: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Mohan Avenue Phase I

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty, charged at 7%, would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees together to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mohan Avenue Phase I?

The Sub Registrar Office that covers Mohan Avenue Phase I is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Puthur, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. This value serves as a benchmark for property transactions, helping to maintain transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Mohan Avenue Phase I?

The current guideline value of Mohan Avenue Phase I is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2023 to Rs 550 per sq.ft in 2024, an increase of 10%. It was Rs 335 per sq.ft in 2017 and Rs 500 per sq.ft in 2012, showing a 49% increase from 2017 to 2023.

What is the land classification of Mohan Avenue Phase I?

Mohan Avenue Phase I is classified as Residential Class I Type - II, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Mohan Avenue Phase I?

The Tambaram Joint 1 Sub Registrar Office covers Mohan Avenue Phase I, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at the current guideline value would incur a total fee of Rs 49,500.