Guideline Value for Mohan Kumaramangalam Road

Mohan Kumaramangalam Road guideline value

The current guideline value of Mohan Kumaramangalam Road is Rs 12,600 per sq.ft, effective from 1 July 2024. This road is located in Nungambakkam village, under the Chennai Central Joint II SRO, and is classified as Residential Special Type - I.

How the guideline value of Mohan Kumaramangalam Road has changed

The guideline value for Mohan Kumaramangalam Road has seen several revisions over the years. The earliest available revision is from 2007, where the value was Rs 10,835 per sq.ft. In 2012, it changed to Rs 11,500 per sq.ft, representing an increase of 6%. However, in 2017, the value dropped to Rs 7,705 per sq.ft, marking a decrease of 33%. The value then rose significantly to Rs 11,500 per sq.ft in 2023, a 49% increase from the 2017 figure. The most recent revision in 2024 set the guideline value at Rs 12,600 per sq.ft, reflecting a 10% increase from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 16%.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Mohan Kumaramangalam Road's 2024 figure above this median.

• Model School Road: Rs 11,500 per sq.ft (2024)
• Moores Lane (Slum): Rs 5,500 per sq.ft (2024)
• Moores Road: Rs 9,900 per sq.ft (2024)
• Mosque Street: Rs 7,100 per sq.ft (2024)
• Murali Street: Rs 7,700 per sq.ft (2024)
• Melpady Muthunaicken Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Mohan Kumaramangalam Road

For a 1,000 sq.ft plot at the current guideline value of Rs 12,600 per sq.ft, the total guideline value amounts to Rs 1,26,00,000. The stamp duty at 7% would be Rs 8,82,000, and the registration fee at 2% would be Rs 2,52,000, bringing the total fees to Rs 11,34,000. 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 Kumaramangalam Road?

The Sub Registrar Office that covers Mohan Kumaramangalam Road is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for further information.

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

The guideline value plays a crucial role when buying or selling property in Nungambakkam. It is used to determine the stamp duty and registration fees that are payable during the registration process. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

When a property is registered, the guideline value helps establish a baseline for the transaction, ensuring transparency and accountability in the real estate market. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Mohan Kumaramangalam Road?

The current guideline value of Mohan Kumaramangalam Road is Rs 12,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, with the most recent increase being from Rs 11,500 per sq.ft in 2023 to Rs 12,600 per sq.ft in 2024. Overall, from 2007 to 2024, the value has increased by 16%.

What is the land classification for Mohan Kumaramangalam Road?

Mohan Kumaramangalam Road is classified as Residential Special Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for properties on this road?

For a property valued at Rs 1,26,00,000, the stamp duty would be Rs 8,82,000 and the registration fee would be Rs 2,52,000, totaling Rs 11,34,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Mohan Kumaramangalam Road is located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find more information online.