Guideline Value for Mohanapuri 1st Main Road

Mohanapuri 1st Main Road guideline value

The current guideline value of Mohanapuri 1st Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Mohanapuri 1st Main Road has changed

The guideline value has seen several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which then decreased to Rs 2,680 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase to Rs 4,000 per sq.ft, followed by a further increase to Rs 4,400 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023 and by 10% from 2023 to 2024. Overall, from 2012 to 2024, the value has increased by 10%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is equal to the current guideline value of Mohanapuri 1st Main Road.

• Mohanapuri 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Mohanapuri 1st Street: Rs 4,400 per sq.ft (2024)
• Mohanapuri: Rs 4,400 per sq.ft (2024)
• Mohanapuri 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Mohanapuri 2nd Main Road: Rs 4,400 per sq.ft (2024)
• Mohanapuri 2nd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Mohanapuri 1st Main Road

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mohanapuri 1st Main Road?

The Sub Registrar Office that covers Mohanapuri 1st Main Road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected.

Frequently asked questions

What is the current guideline value of Mohanapuri 1st Main Road?

The current guideline value of Mohanapuri 1st Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification for Mohanapuri 1st Main Road?

The land classification for Mohanapuri 1st Main Road is Residential Class II Type - II.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where is the Sub Registrar Office for Mohanapuri 1st Main Road located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.