Guideline Value for M.O.C NAGAR CROSS STREET

M.O.C Nagar Cross Street guideline value

The current guideline value of M.O.C Nagar Cross Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of M.O.C Nagar Cross Street has changed

In reviewing the guideline value revisions, the earliest recorded figure for M.O.C Nagar Cross Street is from 2012, which was Rs 1,200 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 804 per sq.ft. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and then to Rs 1,320 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The overall change from the 2012 figure to the current 2024 figure shows a slight increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft as of 2024. The median guideline value for these streets is Rs 1,650 per sq.ft, indicating that M.O.C Nagar Cross Street's current value is below this median.

• M.O.C. Nagar 3rd Street: Rs 1,320 per sq.ft (2024)
• M.O.C. Nagar 2nd Street: Rs 1,320 per sq.ft (2024)
• M.O.C. Nagar 1st Street: Rs 1,320 per sq.ft (2024)
• M.G.R. Nagar Main Road: Rs 1,320 per sq.ft (2024)
• M.G.R. Nagar Kalaningar Street: Rs 1,320 per sq.ft (2024)
• M.G.R. Nagar 7th Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in M.O.C Nagar Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty is charged at 7%, which totals Rs 92,400, while the registration fee at 2% amounts to Rs 26,400. Together, the total fees would be Rs 1,18,800. It is essential to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.O.C Nagar Cross Street?

The Sub Registrar Office that covers M.O.C Nagar Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. It is used to calculate the stamp duty and registration fees that buyers must pay when purchasing a property.

When selling a property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions as per the government’s assessment. This helps maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of M.O.C Nagar Cross Street?

The current guideline value of M.O.C Nagar Cross Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for M.O.C Nagar Cross Street?

The land classification for M.O.C Nagar Cross Street is Residential Class IV Type - II.

What are the stamp duty and registration fees for properties in M.O.C Nagar Cross Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,18,800.

Which office handles registrations for M.O.C Nagar Cross Street?

The Chennai South Joint I Sub Registrar Office handles registrations for M.O.C Nagar Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.