Guideline Value for Mohanapuri 5th Street

Mohanapuri 5th Street guideline value

The current guideline value of Mohanapuri 5th Street 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, classified as Residential Class II Type - II.

How the guideline value of Mohanapuri 5th Street has changed

The guideline value for Mohanapuri 5th Street has seen several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft, which increased to Rs 2,680 per sq.ft in 2017, marking a 49% rise. The value then rose to Rs 4,000 per sq.ft in 2023, and with the latest revision in 2024, it stands at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 144%. The register has no figures for the years 2002, 2003, and 2012 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with 2024 guideline values 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 2024 figure for Mohanapuri 5th Street.

• Mohanapuri 5th Main Road: Rs 4,400 per sq.ft (2024)
• Mohanapuri Cross Street: Rs 4,400 per sq.ft (2024)
• Mohanapuri 5th Cross Street: Rs 4,400 per sq.ft (2024)
• Mohanapuri Lake View Street: Rs 4,400 per sq.ft (2024)
• Mohanapuri 4th Street: Rs 4,400 per sq.ft (2024)
• Mohanapuri 4th Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Mohanapuri 5th Street

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, making the total Rs 3,96,000. 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 Mohanapuri 5th Street?

The Sub Registrar Office that covers Mohanapuri 5th Street 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 crucial factor in property transactions in Velachery, as it determines the minimum value at which properties can be registered. This value is used to calculate stamp duty and registration fees, which are mandatory during the purchase or sale of property.

When a property is sold, the sale price is compared to the guideline value, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mohanapuri 5th Street?

The current guideline value of Mohanapuri 5th Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, with increases from Rs 1,800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, representing an overall increase of 144%.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Mohanapuri 5th Street is 7% of the guideline value or sale price, whichever is higher.

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

The Velacheri Sub Registrar Office, which covers Mohanapuri 5th Street, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Mohanapuri 5th Street?

Mohanapuri 5th Street is classified as Residential Class II Type - II.