Guideline Value for Mohan Avenue

Mohan Avenue guideline value

The current guideline value of Mohan Avenue, located in Madambakkam village under the Gooduvancheri SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Special Type - I.

How the guideline value of Mohan Avenue has changed

Looking at the revisions, the guideline value for Mohan Avenue has seen several changes over the years. The 2007 revision recorded a value of Rs 245 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in the 2012 revision. However, this value then dropped to Rs 804 per sq.ft in the 2017 revision. The 2023 and 2024 revisions both maintained the value at Rs 1,200 per sq.ft, showing no change between these two years. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. The most notable increase was from 2007 to 2012, which saw a rise of 390%. Overall, from 2007 to 2024, the guideline value has increased by 390%.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 1,200 per sq.ft, which is equal to the 2024 figure for Mohan Avenue.

• Nisha Nagar: Rs 1,200 per sq.ft (2024)
• Nisha Nagar Extn: Rs 1,200 per sq.ft (2024)
• Madhu Nagar: Rs 1,200 per sq.ft (2024)
• Om Vasan Nagar: Rs 1,200 per sq.ft (2024)
• Lalitha Traders: Rs 1,200 per sq.ft (2024)
• Lalitha Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mohan Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, making the total cost for these fees Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mohan Avenue?

The Sub Registrar Office that covers Mohan Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Madambakkam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. This ensures that the transaction is recorded at a value that is consistent with the prevailing rates in the area.

When you register a property, the guideline value helps to establish a fair base for taxation purposes. Buyers and sellers must be aware of this value to ensure compliance with local regulations and to avoid any potential legal issues during the transaction process.

Frequently asked questions

What is the current guideline value of Mohan Avenue?

The current guideline value of Mohan Avenue is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 245 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, decreased to Rs 804 per sq.ft in 2017, and then remained at Rs 1,200 per sq.ft in both 2023 and 2024.

What are the stamp duty and registration fees for properties in Mohan Avenue?

For a property of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 84,000 and the registration fee would be Rs 24,000, totaling Rs 1,08,000.

Which Sub Registrar Office covers Mohan Avenue?

The Gooduvancheri Sub Registrar Office covers Mohan Avenue, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

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 serves as a reference point to ensure that the transaction is recorded at a consistent value in accordance with local regulations.