Guideline Value for Mohan Nagar 2nd Cross street

Mohan Nagar 2nd Cross street guideline value

The current guideline value of Mohan Nagar 2nd Cross street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as Commercial Class I Type - II.

How the guideline value of Mohan Nagar 2nd Cross street has changed

Looking at the historical revisions, the guideline value for Mohan Nagar 2nd Cross street was Rs 2,200 per sq.ft in 2023, which increased to Rs 2,400 per sq.ft in the 2024 revision, marking a change of +9%. Prior to that, in 2017, the guideline value was Rs 1,474 per sq.ft, which reflects a significant increase of +49% to the 2023 figure. The 2012 revision recorded a value of Rs 2,200 per sq.ft, which was a decrease of -33% compared to the 2017 figure. The overall change from the 2012 revision to the current 2024 value shows a slight increase of +9%.

The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value is Rs 2,400 per sq.ft, which means that the 2024 figure for Mohan Nagar 2nd Cross street is equal to this median.

• Mohan Nagar 1st Street: Rs 2,400 per sq.ft (2024)
• Mohan Nagar 2nd Street: Rs 2,400 per sq.ft (2024)
• Mohan Nagar 1st Main Road: Rs 1,700 per sq.ft (2024)
• Mohan Nagar 3rd Cross Street: Rs 2,400 per sq.ft (2024)
• Mohan Nagar 1st Cross Street: Rs 2,400 per sq.ft (2024)
• Mohan Nagar 3rd Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Mohan Nagar 2nd Cross street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total fees together to Rs 2,16,000. It is important to note that 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 Nagar 2nd Cross street?

The Mohan Nagar 2nd Cross street falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Madambakkam. It determines the minimum value at which property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for both the buyer and seller. It is essential to consider this value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Mohan Nagar 2nd Cross street?

The current guideline value of Mohan Nagar 2nd Cross street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen changes from Rs 1,474 per sq.ft in 2017 to Rs 2,400 per sq.ft in 2024, with notable revisions in 2023 and 2012 as well.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Mohan Nagar 2nd Cross street is 7% of the guideline value or sale price, whichever is higher.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft, which is the same as the current guideline value for Mohan Nagar 2nd Cross street.