Guideline Value for Mohanapuri

Mohanapuri guideline value

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

How the guideline value of Mohanapuri has changed

The guideline value of Mohanapuri has seen significant changes over the years. The earliest recorded revision in 2002 set the guideline value at Rs 455 per sq.ft. This figure increased dramatically to Rs 1,800 per sq.ft in the 2007 revision, marking a 296% rise. However, there are no figures available for the years 2003, 2012, 2017, and 2023 for this street.

From 2007 to 2024, the guideline value further increased to Rs 4,400 per sq.ft, representing a 144% change. Overall, from 2002 to 2024, the guideline value has risen by an impressive 867%.

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 the same as the current value for Mohanapuri.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. 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 accurate calculations based on your property details.

Which Sub Registrar Office covers Mohanapuri?

The Sub Registrar Office that covers Mohanapuri 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 when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are conducted transparently and in accordance with government regulations.

Frequently asked questions

What is the current guideline value of Mohanapuri?

The current guideline value of Mohanapuri 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 from Rs 455 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 867%.

What is the land classification for Mohanapuri?

The land classification for Mohanapuri is Residential Class II Type - II.

Where can I find the Sub Registrar Office for Mohanapuri?

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

How is stamp duty calculated for properties in Mohanapuri?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at 7%.