Guideline Value for M.O.C. NAGAR 1ST STREET

M.O.C. Nagar 1st Street guideline value

The current guideline value of M.O.C. Nagar 1st 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 1st Street has changed

The guideline value for M.O.C. Nagar 1st Street has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 47 per sq.ft. This increased to Rs 100 per sq.ft in 2003, marking a significant rise of 113%. The value then saw a further increase of 300% to Rs 400 per sq.ft in 2007. By 2012, the value had risen to Rs 1,200 per sq.ft, reflecting a 200% increase. However, it decreased to Rs 804 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 1,200 per sq.ft in 2023, followed by a rise to the current value of Rs 1,320 per sq.ft in 2024, which is a 10% increase.

There are no figures available for the revisions in the years not listed in the register. The overall change from 2002 to 2024 shows a remarkable increase of 2709% in the guideline value.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, making the current value of M.O.C. Nagar 1st Street below that median.

• M.O.C. Nagar 2nd Street: Rs 1,320 per sq.ft (2024)
• M.O.C. Nagar 3rd Street: Rs 1,320 per sq.ft (2024)
• M.O.C Nagar Cross 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 7tn Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in M.O.C. Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers M.O.C. Nagar 1st Street?

The Sub Registrar Office that covers M.O.C. Nagar 1st 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 during the registration of property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately and transparently.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations associated with the transaction and helps in avoiding disputes related to property valuation.

Frequently asked questions

What is the current guideline value of M.O.C. Nagar 1st Street?

The current guideline value of M.O.C. Nagar 1st 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 significantly from Rs 47 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 2709% over the years.

What is the land classification for M.O.C. Nagar 1st Street?

The land classification for M.O.C. Nagar 1st Street is Residential Class IV Type - II, indicating its use for residential purposes.

Where can I find the Sub Registrar Office for M.O.C. Nagar 1st Street?

The Sub Registrar Office for M.O.C. Nagar 1st Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in M.O.C. Nagar 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 92,400.