Guideline Value for Mohan Garden

Mohan Garden guideline value

The current guideline value of Mohan Garden, located in Madhavaram village under the Madhavaram SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Mohan Garden has changed

Over the years, the guideline value for Mohan Garden has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the guideline value was again Rs 1,500 per sq.ft, but in 2024, it increased to Rs 1,600 per sq.ft, marking a 7% increase from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%. This steady increase reflects the adjustments made in the recent revisions, particularly the significant change from 2023 to 2024.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which is equal to the current guideline value of Mohan Garden.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mohan Garden?

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

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

The guideline value is a crucial factor in property transactions in Madhavaram. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider this value to ensure compliance with local regulations during the sale process.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications associated with the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Mohan Garden?

The current guideline value of Mohan Garden 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 changed from Rs 1,500 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, reflecting a 7% increase overall.

What are the other streets in Madhavaram with similar guideline values?

Other streets in Madhavaram with a guideline value of Rs 1,600 per sq.ft include Mohan Garden Rd (Ward No.15), Mohan Garden (Ward-15), and Mohan Nagar.

How is stamp duty calculated for properties in Mohan Garden?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 16,00,000 would incur a stamp duty of Rs 1,12,000 at 7%.

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

The Sub Registrar Office for Mohan Garden is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more details online.