Guideline Value for Mohan Nagar 3rd Street

Mohan Nagar 3rd Street guideline value

The current guideline value of Mohan Nagar 3rd 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 3rd Street has changed

Looking at the revisions, the guideline value for Mohan Nagar 3rd 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 value was Rs 1,474 per sq.ft, showing 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% from the 2017 figure. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from 2012 to 2024, the guideline value has seen a modest increase of +9%, reflecting the current value of Rs 2,400 per sq.ft. This indicates a stable valuation in recent years, particularly when compared to the fluctuations observed in earlier revisions.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value is Rs 2,400 per sq.ft, which aligns with the guideline value of Mohan Nagar 3rd Street.

• Mohan Nagar 3rd Cross Street: Rs 2,400 per sq.ft (2024)
• Mohan Nagar 4th Cross Street: Rs 2,400 per sq.ft (2024)
• Mohan Nagar 2nd Street: Rs 2,400 per sq.ft (2024)
• Mohan Nagar 4th Street: Rs 2,400 per sq.ft (2024)
• Mohan Nagar 2nd Cross street: Rs 2,400 per sq.ft (2024)
• Mohan Nagar 5th Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Mohan Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total to Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Mohan Nagar 3rd Street?

The Sub Registrar Office that covers Mohan Nagar 3rd Street is 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 serves as a reference point for calculating the stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to determine the applicable duties and fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Mohan Nagar 3rd Street?

The current guideline value of Mohan Nagar 3rd 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 changed from Rs 2,200 per sq.ft in 2023 to Rs 2,400 per sq.ft in 2024. It was Rs 1,474 per sq.ft in 2017 and Rs 2,200 per sq.ft in 2012.

What are the other streets in Madambakkam with the same guideline value?

Other streets in Madambakkam with the same guideline value of Rs 2,400 per sq.ft include Mohan Nagar 3rd Cross Street, Mohan Nagar 4th Cross Street, Mohan Nagar 2nd Street, Mohan Nagar 4th Street, Mohan Nagar 2nd Cross street, and Mohan Nagar 5th Street.

How is stamp duty calculated for properties in Mohan Nagar 3rd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 at 7%.

Where can I find the Sub Registrar Office for Mohan Nagar 3rd Street?

The Sub Registrar Office for Mohan Nagar 3rd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.