Guideline Value for Mohi Florence Phase-III

Mohi Florence Phase-III guideline value

The current guideline value for Mohi Florence Phase-III is Rs 2,900 per sq.ft, effective from 1 July 2024. This property is located in Vengaivasal village and falls under the Selaiyur SRO. The land classification is Residential Class I Type - V.

How the guideline value of Mohi Florence Phase-III has changed

The guideline value for Mohi Florence Phase-III has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the value at Rs 2,700 per sq.ft, which was then increased to Rs 2,900 per sq.ft in the 2024 revision, marking a change of +7%.

With the 2024 revision, Mohi Florence Phase-III's guideline value stands above the median value of Rs 2,700 per sq.ft for the 117 streets in Vengaivasal under the Selaiyur SRO. This indicates that the current value is competitive within the local context.

Guideline values in Vengaivasal

In Vengaivasal, the guideline values range from Rs 850 to Rs 4,800 per sq.ft, with a median value of Rs 2,700 per sq.ft. Mohi Florence Phase-III's 2024 figure of Rs 2,900 per sq.ft is above this median. Below are the guideline values for other streets in Vengaivasal:

• Mohi Florence Phase-5: Rs 2,900 per sq.ft (2024)
• Mohi's Naple's: Rs 3,000 per sq.ft (2024)
• Muthumani Nagar: Rs 3,300 per sq.ft (2024)
• Megala Nagar: Rs 1,900 per sq.ft (2024)
• Nehru Street: Rs 1,650 per sq.ft (2024)
• Mambakkam Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mohi Florence Phase-III

For a 1,000 sq.ft plot at the current rate of Rs 2,900 per sq.ft, the guideline value amounts to Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, totaling Rs 2,61,000. 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 further calculations.

Which Sub Registrar Office covers Mohi Florence Phase-III?

The Mohi Florence Phase-III property is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Vengaivasal. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the necessary fees. This ensures that all transactions are conducted transparently and fairly, adhering to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value for Mohi Florence Phase-III?

The current guideline value for Mohi Florence Phase-III is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Mohi Florence Phase-III has changed from Rs 2,700 per sq.ft in 2023 to Rs 2,900 per sq.ft in 2024, reflecting a +7% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values for other streets in Vengaivasal?

Other streets in Vengaivasal have varying guideline values, ranging from Rs 850 to Rs 4,800 per sq.ft. Mohi Florence Phase-III's value is above the median of Rs 2,700 per sq.ft for the area.

What are the stamp duty and registration fees for properties in Mohi Florence Phase-III?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to Rs 2,61,000. This includes a stamp duty of Rs 2,03,000 and a registration fee of Rs 58,000.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. This office handles registrations for properties in Mohi Florence Phase-III.