Guideline Value for Mohan Garden (Ward-15)

Mohan Garden (Ward-15) guideline value

The current guideline value of Mohan Garden (Ward-15) is Rs 1,600 per sq.ft, effective from 1 July 2024. This property is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Mohan Garden (Ward-15) has changed

The guideline value for Mohan Garden has seen several revisions over the years. The oldest available revision is from 2012, which set the value at Rs 1,500 per sq.ft. This figure remained unchanged through to the 2023 revision. In 2024, the guideline value increased to Rs 1,600 per sq.ft, marking a 7% increase from the 2023 figure.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value is Rs 1,600 per sq.ft, which aligns with the current guideline value for Mohan Garden.

• Mohan Garden Rd (Ward No.15): Rs 1,600 per sq.ft (2024)
• Mohan Nagar: Rs 1,600 per sq.ft (2024)
• Mohan Garden: Rs 1,600 per sq.ft (2024)
• Mohan Nagar,Ponniammanmedu (Ward-23): Rs 1,600 per sq.ft (2024)
• Mohan Nagar,Ponniammanmedu (Ward-24): Rs 1,300 per sq.ft (2024)
• Mohan Nagar (Ward-29): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Mohan Garden (Ward-15)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total charges to Rs 1,44,000. It is important to note that 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 Mohan Garden (Ward-15)?

The Sub Registrar Office that covers Mohan Garden (Ward-15) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in compliance with local regulations.

When you buy or sell property, the guideline value will influence the stamp duty and registration fees you are required to pay. This ensures that the property is assessed fairly according to the established rates in the area.

Frequently asked questions

What is the current guideline value of Mohan Garden (Ward-15)?

The current guideline value of Mohan Garden (Ward-15) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,500 per sq.ft from 2012 to 2023 and increased to Rs 1,600 per sq.ft in 2024, marking a total increase of 7% from 2012 to 2024.

What is the land classification for Mohan Garden?

Mohan Garden is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Mohan Garden?

The Madhavaram Sub Registrar Office, which covers Mohan Garden, is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Mohan Garden?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For instance, a 1,000 sq.ft plot at the current guideline value would incur a total charge of Rs 1,44,000 in stamp duty and registration fees.