Guideline Value for Mohan Nagar 4th Cross Street

Mohan Nagar 4th Cross Street guideline value

The current guideline value of Mohan Nagar 4th Cross Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Mohan Nagar 4th Cross Street has changed

Looking at the revisions, the guideline value for Mohan Nagar 4th Cross Street has remained at Rs 2,200 per sq.ft since the 2012 revision until the 2023 revision. In 2024, the value increased to Rs 2,400 per sq.ft, marking a 9% rise from the previous year. There are no figures available for the years 2002, 2003, 2007, and 2017 in the register for this street.

From 2012 to 2024, the overall change in the guideline value is also +9%. The 2023 revision maintained the same value as the 2012 revision, indicating stability in the guideline value during that period.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a guideline value for 2024, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, which is equal to the current guideline value of Mohan Nagar 4th Cross Street.

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

Stamp duty and registration fee for property in Mohan Nagar 4th 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. Together, the total cost for stamp duty and registration fees would be Rs 2,16,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mohan Nagar 4th Cross Street?

The Sub Registrar Office that covers Mohan Nagar 4th Cross 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted transparently and fairly.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Mohan Nagar 4th Cross Street?

The current guideline value of Mohan Nagar 4th 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 remained at Rs 2,200 per sq.ft from 2012 until 2023 and increased to Rs 2,400 per sq.ft in 2024, marking a 9% rise. There are no figures available for the years 2002, 2003, 2007, and 2017 for this street.

What is the land classification for Mohan Nagar 4th Cross Street?

The land classification for Mohan Nagar 4th Cross Street is Commercial Class I Type - II. This classification can affect the types of developments and activities permitted in the area.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 and the registration fee would be Rs 48,000, totaling Rs 2,16,000. These fees are calculated based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Mohan Nagar 4th Cross Street located?

The Sub Registrar Office for Mohan Nagar 4th Cross 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.