Guideline Value for Mohanram Nagar

Mohanram Nagar guideline value

The current guideline value of Mohanram Nagar, located in Mugappair village under the Konnur SRO, is Rs 7,100 per sq.ft. This value is effective from 1 July 2024 and falls under the land classification of Residential Special Type - I.

How the guideline value of Mohanram Nagar has changed

The guideline value of Mohanram Nagar has experienced several revisions over the years. In 2002, the value was Rs 601 per sq.ft, which increased to Rs 660 per sq.ft in 2003, marking a 10% rise. The value then saw a significant jump to Rs 3,000 per sq.ft in 2007, resulting in a 355% increase. Following this, the value decreased to Rs 6,500 per sq.ft in 2012, a decline of 33%. In 2017, it rose to Rs 4,355 per sq.ft, followed by another increase to Rs 6,500 per sq.ft in 2023, before reaching the current value of Rs 7,100 per sq.ft in 2024, reflecting a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1081%. The revisions from 2017 to 2023 showed a 49% increase, while the period from 2012 to 2017 saw a decrease. It is important to note that there are no figures available for the years not mentioned in the register for this street.

Guideline values in Mugappair

Mugappair village has a total of 224 streets under the Konnur SRO, with the 2024 guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, which is equal to the guideline value of Mohanram Nagar.

• Mogappair Vennus Street: Rs 3,300 per sq.ft (2024)
• Mogappair School Street (Mogappair East): Rs 7,100 per sq.ft (2024)
• Mogappair Road Segment - 4 (End of the Srinivasa Nagar and near Madhiyazhagan Nagar): Rs 7,100 per sq.ft (2024)
• Mogappair Road Segment - 3 (Wavin to Mogappair Road West Water Tank): Rs 7,100 per sq.ft (2024)
• Mogappair Road Segment - 2 (Sidco Arch to Mogappair East): Rs 7,100 per sq.ft (2024)
• Mogappair Road (Segment – 1) Thirumangalam Circule to Sidco Arch: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Mohanram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, making the total cost for these fees Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mohanram Nagar?

The Sub Registrar Office that covers Mohanram Nagar is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor when it comes to the registration of property transactions in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property transactions. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Mohanram Nagar?

The current guideline value of Mohanram Nagar is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 601 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 1081% over the years.

What is the registration office for Mohanram Nagar?

The registration office for Mohanram Nagar is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated for properties in Mohanram Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value is Rs 71,00,000, leading to a stamp duty of Rs 4,97,000 at 7%.

What are the other streets in Mugappair with guideline values?

Other streets in Mugappair under the Konnur SRO include Mogappair Vennus Street at Rs 3,300 per sq.ft, and several segments of Mogappair Road, all valued at Rs 7,100 per sq.ft in 2024.