Guideline Value for MOGAPPAIR ROAD (ESTATE ROAD)

Mogappair Road (Estate Road) guideline value

The current guideline value of Mogappair Road (Estate Road) is Rs 9,900 per sq.ft, effective from 1 July 2024. This road is located in Padi village and falls under the Villivakkam SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Mogappair Road (Estate Road) has changed

In the 2007 revision, the guideline value was Rs 1,500 per sq.ft. This figure saw a significant increase in the 2012 revision, where it rose to Rs 9,000 per sq.ft, marking a 500% increase. However, in the 2017 revision, the value decreased to Rs 6,030 per sq.ft, reflecting a 33% drop. The guideline value then increased again to Rs 9,000 per sq.ft in the 2023 revision, followed by a further rise to Rs 9,900 per sq.ft in the 2024 revision, which is a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 560%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Padi

In Padi, there are 354 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, placing Mogappair Road (Estate Road) above this median.

• M.M.M.Hospital Road (Bazaar Road): Rs 9,900 per sq.ft (2024)
• Mosque Street: Rs 4,900 per sq.ft (2024)
• M.T.H.Road: Rs 8,200 per sq.ft (2024)
• M.G.R.Nagar (Near Canal-Slums): Rs 2,200 per sq.ft (2024)
• Mettukulam (M.T.H.Road): Rs 8,200 per sq.ft (2024)
• Mathiazhagan Nagar: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Mogappair Road (Estate Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, bringing the total to Rs 8,91,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mogappair Road (Estate Road)?

The Sub Registrar Office that covers Mogappair Road (Estate Road) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Padi. It serves as a basis for calculating the stamp duty and registration fees that buyers and sellers must pay during the registration process.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value according to government regulations. This value is crucial for both buyers and sellers to understand their financial obligations during a property transaction.

Frequently asked questions

What is the current guideline value of Mogappair Road (Estate Road)?

The current guideline value of Mogappair Road (Estate Road) is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 1,500 per sq.ft in 2007 to Rs 9,900 per sq.ft in 2024, which is an overall increase of 560%.

What is the land classification for Mogappair Road (Estate Road)?

The land classification for Mogappair Road (Estate Road) is Residential Special Type - II.

What are the stamp duty and registration fees for properties on this road?

For a property valued at Rs 99,00,000, the stamp duty would be Rs 6,93,000 and the registration fee would be Rs 1,98,000, totaling Rs 8,91,000.

Which office handles property registrations for Mogappair Road (Estate Road)?

The Villivakkam Sub Registrar Office handles property registrations for Mogappair Road (Estate Road), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.