Guideline Value for Mohan Nagar Main Road

Mohan Nagar Main Road guideline value

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

How the guideline value of Mohan Nagar Main Road has changed

Looking at the revisions, the guideline value for Mohan Nagar Main Road has seen a change from Rs 2,200 per sq.ft in 2012 to the current value of Rs 2,400 per sq.ft in 2024. There was no change in the guideline value between the 2012 and 2023 revisions, which remained at Rs 2,200 per sq.ft. The only increase occurred from 2023 to 2024, marking a 9% rise.

For the years 2002, 2003, 2007, and 2017, the register has no figure for this street. Overall, from 2012 to 2024, the guideline value has increased by 9%.

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 value is Rs 2,400 per sq.ft, which aligns with the current guideline value for Mohan Nagar Main Road.

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

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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Mohan Nagar Main Road?

The Sub Registrar Office that covers Mohan Nagar Main Road 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 here.

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

The guideline value plays a crucial role during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value may influence the sale price, as it is used to calculate the applicable stamp duty and registration fees. Buyers and sellers should be aware of the guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Mohan Nagar Main Road?

The current guideline value of Mohan Nagar Main Road 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 to 2023, and it increased to Rs 2,400 per sq.ft in 2024, marking a 9% rise from the previous year.

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

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

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.

How is stamp duty calculated based on the guideline value?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable on the guideline value.