Guideline Value for Mothi Nagar

Mothi Nagar guideline value

The current guideline value of Mothi Nagar, located in Attanthangal village under the Redhills SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Mothi Nagar has changed

The guideline value for Mothi Nagar has seen several revisions over the years. In 2003, the guideline value was Rs 12 per sq.ft, which increased significantly to Rs 200 per sq.ft in 2007. Following this, the value doubled to Rs 400 per sq.ft in 2012, but then decreased by 33% to Rs 268 per sq.ft in 2017. The most recent revisions show a rise to Rs 400 per sq.ft in 2023, and then to Rs 440 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 3567%. It is important to note that the register has no figure for Mothi Nagar in 2002.

Guideline values in Attanthangal

In Attanthangal, there are 80 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 880 per sq.ft, with a median of Rs 880 per sq.ft. Mothi Nagar's current guideline value is below this median.

• Munusamy Nagar: Rs 440 per sq.ft (2024)
• M.G.R. Nagar: Rs 440 per sq.ft (2024)
• Mettu Street: Rs 880 per sq.ft (2024)
• Mettu 9th Street: Rs 880 per sq.ft (2024)
• Mettu 8th Street: Rs 880 per sq.ft (2024)
• Mettu 7th Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Mothi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total fees together to Rs 39,600. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Mothi Nagar?

The Sub Registrar Office that covers Mothi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Attanthangal. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, both parties must consider the guideline value, as it may influence the sale price. The registration process requires that the property be registered at the guideline value or the actual sale price, whichever is higher, to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Mothi Nagar?

The current guideline value of Mothi Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 12 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, reflecting significant increases over the years, including a 10% rise from 2023 to 2024.

Which Sub Registrar Office covers Mothi Nagar?

The Redhills Sub Registrar Office covers Mothi Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What are the stamp duty and registration fees for property in Mothi Nagar?

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800, and the registration fee would be Rs 8,800, totaling Rs 39,600.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value of a property, which affects the stamp duty and registration fees. It ensures that the transaction is legally compliant and that the government receives the appropriate fees based on the higher of the guideline value or the sale price.