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 Thailavaram 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 of Moogambigai Nagar has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which was later reduced to Rs 402 per sq.ft in the 2017 revision. Following this, the value increased to Rs 600 per sq.ft in the 2023 revision and finally rose to Rs 660 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in guideline value is an increase of 10%. The increase from 2017 to 2023 was significant at 49%, while the reduction from 2012 to 2017 was 33%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thailavaram

In Thailavaram, there are 132 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing Moogambigai Nagar's 2024 figure below that median.

• Mooppanar Street (Ward-20): Rs 881 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 would be Rs 6,60,000. The stamp duty at 7% would amount to 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 more details, 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, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thailavaram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid to the government.

When a property transaction occurs, the guideline value is used to calculate the applicable fees, ensuring that the transaction is properly documented and compliant with local regulations. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the registration process.

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 changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Moogambigai Nagar?

Moogambigai Nagar is classified as Residential Class II Type - I.

What is the registration office for Moogambigai Nagar?

The registration office for Moogambigai Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For instance, for a property valued at Rs 6,60,000, the stamp duty at 7% would be Rs 46,200.