Guideline Value for M.O.C. NAGAR 3RD STREET

M.O.C. Nagar 3rd Street guideline value

The current guideline value for M.O.C. Nagar 3rd 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 3rd Street has changed

The guideline value for M.O.C. Nagar 3rd 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 rise of 113%. The value continued to climb significantly to Rs 400 per sq.ft in 2007, which was a 300% increase from the previous revision. However, in 2012, the guideline value dropped to Rs 1,200 per sq.ft, reflecting a decrease of 33% from 2017's figure of Rs 804 per sq.ft. The most recent revision in 2023 set the value at Rs 1,200 per sq.ft, before it increased to Rs 1,320 per sq.ft in 2024, a rise of 10%.

Overall, from 2002 to 2024, the guideline value has increased by 2,709%. The register has no figures for the years between the revisions mentioned above.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with guideline values for 2024 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, placing M.O.C. Nagar 3rd Street's 2024 figure below that median.

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

Stamp duty and registration fee for property in M.O.C. Nagar 3rd 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 at 7% would be 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 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 more details.

Which Sub Registrar Office covers M.O.C. Nagar 3rd Street?

The Sub Registrar Office that covers M.O.C. Nagar 3rd 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 further assistance.

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

The guideline value is a crucial factor when registering property transactions in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of M.O.C. Nagar 3rd Street?

The current guideline value of M.O.C. Nagar 3rd 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 seen significant changes, increasing from Rs 47 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, which is an overall increase of 2,709%.

What are the other streets in Pallikaranai with the same guideline value?

Other streets in Pallikaranai with the same guideline value of Rs 1,320 per sq.ft for 2024 include M.O.C. Nagar 2nd Street, M.O.C Nagar Cross Street, M.O.C. Nagar 1st Street, M.G.R. Nagar Main Road, M.G.R. Nagar Kalaningar Street, and M.G.R. Nagar 7tn Street.

Where can I find the Sub Registrar Office for M.O.C. Nagar 3rd Street?

The Sub Registrar Office for M.O.C. Nagar 3rd 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.

How is the stamp duty calculated for properties in M.O.C. Nagar 3rd Street?

Stamp duty for properties in M.O.C. Nagar 3rd Street is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at 7%.