Guideline Value for MOOGAMBIGAI NAGAR (WARD-21)

Moogambigai Nagar (Ward-21) guideline value

The current guideline value of Moogambigai Nagar (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Potheri village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Moogambigai Nagar (Ward-21) has changed

Over the years, the guideline value for Moogambigai Nagar has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 402 per sq.ft. However, the value significantly increased in the 2023 revision to Rs 600 per sq.ft, followed by a further rise to Rs 660 per sq.ft in the 2024 revision.

From 2012 to 2017, the guideline value decreased by 33%. Subsequently, from 2017 to 2023, it increased by 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, placing Moogambigai Nagar's 2024 figure below this median.

• Mooppanar Street (Ward-20): Rs 880 per sq.ft (2024)
• Mgr Street (Ward-21): Rs 660 per sq.ft (2024)
• Muthulinga Devar Street (Ward-21): Rs 660 per sq.ft (2024)
• Nandhakumar Street, Thailavaram (Ward-21): Rs 660 per sq.ft (2024)
• Narasimman Nagar (Ward-21): Rs 1,980 per sq.ft (2024)
• Narasimman Street (Ward-21): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Moogambigai Nagar (Ward-21)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Moogambigai Nagar (Ward-21)?

The Sub Registrar Office that covers Moogambigai Nagar (Ward-21) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Potheri. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property transactions.

When a property is sold, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property in the market.

Frequently asked questions

What is the current guideline value of Moogambigai Nagar (Ward-21)?

The current guideline value of Moogambigai Nagar (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent revision in 2024 increasing it to Rs 660 per sq.ft from Rs 600 per sq.ft in 2023. The value was Rs 402 per sq.ft in 2017 and Rs 600 per sq.ft in 2012.

What is the land classification of Moogambigai Nagar?

Moogambigai Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Moogambigai Nagar?

The Chengleput Joint II Sub Registrar Office, which covers Moogambigai Nagar, is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Moogambigai Nagar?

Stamp duty for properties in Moogambigai Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.