Guideline Value for Mohana nagar

Mohana nagar guideline value

The current guideline value of Mohana nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class II Type - I.

How the guideline value of Mohana nagar has changed

The guideline value for Mohana nagar has undergone several revisions over the years. The 2007 revision set the value at Rs 500 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, this value decreased to Rs 1,340 per sq.ft in the 2017 revision. From 2017 to 2023, the guideline value rose sharply by 49% to reach Rs 2,000 per sq.ft. The most recent revision in 2024 has seen a further increase of 10%, bringing the current value to Rs 2,200 per sq.ft.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Poonthamallee

Poonthamallee village has 257 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the guideline value for Mohana nagar.

• Mohamed quarters: Rs 2,200 per sq.ft (2024)
• M.M.Nagar: Rs 2,200 per sq.ft (2024)
• Mudthal board school varai: Rs 2,200 per sq.ft (2024)
• Mulla thottam: Rs 2,200 per sq.ft (2024)
• Munikrishna nagar: Rs 2,200 per sq.ft (2024)
• MGR nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mohana nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost together to Rs 1,98,000. It is essential 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 details.

Which Sub Registrar Office covers Mohana nagar?

The Sub Registrar Office covering Mohana nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Poonthamallee. It helps determine the stamp duty and registration fees applicable to the property being bought or sold.

When purchasing property, the buyer must be aware that the guideline value will influence the overall cost, as the stamp duty is charged based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mohana nagar?

The current guideline value of Mohana nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 340% over the years.

What are the stamp duty rates for property in Mohana nagar?

The stamp duty for property in Mohana nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Mohana nagar?

The Sub Registrar Office for Mohana nagar is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the government receives the appropriate revenue based on the property's value.