Guideline Value for Mohanarangan Street

Mohanarangan Street guideline value

The current guideline value of Mohanarangan Street in Chitlapakkam village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Mohanarangan Street has changed

The guideline value for Mohanarangan Street has seen several revisions over the years. In 2012, the guideline value was set at Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, marking a rise of 49%. The most recent revision in 2024 established the guideline value at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in the village is Rs 1,650 per sq.ft, placing Mohanarangan Street's 2024 figure above this median.

• M.M.D.A. Nagar Bharathi Street: Rs 1,650 per sq.ft (2024)
• Moogambigai Street: Rs 1,650 per sq.ft (2024)
• Moorthy St: Rs 1,650 per sq.ft (2024)
• Mortein Luther St: Rs 3,850 per sq.ft (2024)
• M.G.R. Thangalkarai Street: Rs 1,650 per sq.ft (2024)
• M.G.R. Nagar Valluvan Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Mohanarangan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mohanarangan Street?

The Sub Registrar Office that covers Mohanarangan Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Chitlapakkam. It serves as the basis for calculating stamp duty and registration fees during the registration process. Buyers and sellers must consider the guideline value when determining the costs associated with property transactions.

When a property is sold, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are paid. This value helps maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of Mohanarangan Street?

The current guideline value of Mohanarangan Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification of Mohanarangan Street?

Mohanarangan Street is classified as Residential Class I Type - II under the current guidelines.

How does the guideline value compare to other streets in Chitlapakkam?

The guideline value of Rs 2,750 per sq.ft for Mohanarangan Street is above the median value of Rs 1,650 per sq.ft for the 548 streets in Chitlapakkam.

Where can I find the Sub Registrar Office for Mohanarangan Street?

The Sub Registrar Office for Mohanarangan Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.