Guideline Value for Mohan Nagar 5th Street

Mohan Nagar 5th Street guideline value

The current guideline value of Mohan Nagar 5th Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, and it falls under the Commercial Class I Type - II land classification.

How the guideline value of Mohan Nagar 5th Street has changed

The guideline value for Mohan Nagar 5th Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the guideline value was also Rs 2,200 per sq.ft, showing no increase from the previous revision. However, in the 2024 revision, the value increased to Rs 2,400 per sq.ft, marking a 9% rise from the 2023 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. The register does not contain figures for the years 2002, 2003, 2007, and 2017 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 for these streets is Rs 2,400 per sq.ft, which is the same as the current value for Mohan Nagar 5th Street.

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

Stamp duty and registration fee for property in Mohan Nagar 5th 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, totaling Rs 2,16,000. 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 Nagar 5th Street?

The Sub Registrar Office that covers Mohan Nagar 5th 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 in property transactions in Madambakkam. It is used to determine the stamp duty and registration fees payable at the time of property registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal and financial obligations during the transaction process.

When a property is bought or sold, the guideline value serves as a reference point for the value of the property, ensuring that the transaction is recorded accurately in the official register. This helps maintain transparency and accountability in property dealings within the region.

Frequently asked questions

What is the current guideline value of Mohan Nagar 5th Street?

The current guideline value of Mohan Nagar 5th 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 increased from Rs 2,200 per sq.ft in 2012 to Rs 2,400 per sq.ft in 2024, marking a 9% increase overall. There was no change from 2012 to 2023, as the value remained at Rs 2,200 per sq.ft.

What is the land classification for Mohan Nagar 5th Street?

Mohan Nagar 5th Street falls under the Commercial Class I Type - II land classification. This classification impacts the usage and development potential of the property.

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

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. 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.

Where can I find the Sub Registrar Office for Mohan Nagar 5th Street?

The Selaiyur Sub Registrar Office covers Mohan Nagar 5th Street. It is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.