Guideline Value for M.O.C. NAGAR 2ND STREET

M.O.C. Nagar 2nd Street guideline value

The current guideline value of M.O.C. Nagar 2nd 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, classified as Residential Class IV Type - II.

How the guideline value of M.O.C. Nagar 2nd Street has changed

The guideline value for M.O.C. Nagar 2nd Street has undergone several revisions since 2002. The earliest recorded figure is from 2002, with a guideline value of Rs 47 per sq.ft, which increased to Rs 100 per sq.ft in 2003, marking a 113% rise. In 2007, the value jumped to Rs 400 per sq.ft, reflecting a significant increase of 300%. Following this, the 2012 revision set the value at Rs 1,200 per sq.ft, a decrease of 33% from 2017's value of Rs 804 per sq.ft. The 2023 revision brought the guideline value to Rs 1,200 per sq.ft, and the latest revision in 2024 has increased it to Rs 1,320 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has seen a remarkable increase of 2709%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Pallikaranai

Pallikaranai village 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 value for these streets is Rs 1,650 per sq.ft, placing M.O.C. Nagar 2nd Street's 2024 figure below that median.

• M.O.C. Nagar 1st 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 2nd Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers M.O.C. Nagar 2nd Street?

The Sub Registrar Office covering M.O.C. Nagar 2nd 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 an essential factor during property registration in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are documented at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. It is crucial for both 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 M.O.C. Nagar 2nd Street?

The current guideline value of M.O.C. Nagar 2nd 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%.

What is the median guideline value in Pallikaranai?

The median guideline value for streets in Pallikaranai is Rs 1,650 per sq.ft, which is higher than the current value of M.O.C. Nagar 2nd Street.

What are the stamp duty and registration fees for property in M.O.C. Nagar 2nd Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,18,800 based on the current guideline value.

Where can I find the Sub Registrar Office for M.O.C. Nagar 2nd Street?

The Sub Registrar Office is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.