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 Vallancheri village, under the Chengleput Joint II SRO, and is classified as Residential Class II Type - I.

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

Looking at the historical revisions, the guideline value for Moogambigai Nagar (Ward-21) was Rs 600 per sq.ft in 2023, which increased to Rs 660 per sq.ft in 2024, representing a change of +10%. Prior to that, in 2017, the value was Rs 402 per sq.ft, showing a significant increase of +49% to reach the 2023 figure. The register has no figures for the years 2002, 2003, and 2007.

In 2012, the guideline value was Rs 600 per sq.ft, which decreased to Rs 402 per sq.ft in 2017, a decline of -33%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of +10%.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO, with 2024 guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this area is Rs 825 per sq.ft, placing Moogambigai Nagar (Ward-21) below that 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 rate of Rs 660 per sq.ft, the guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, while the registration fee at 2% would total Rs 13,200, bringing the total fees to Rs 59,400. 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 more detailed calculations.

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

The Sub Registrar Office covering 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 Vallancheri

The guideline value plays a crucial role in the registration process of property transactions in Vallancheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the buyer must pay the stamp duty based on the higher of the guideline value or the actual sale price. 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 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 2023 to Rs 660 per sq.ft in 2024. It was Rs 402 per sq.ft in 2017 and Rs 600 per sq.ft in 2012, with various changes in between.

What is the land classification of Moogambigai Nagar?

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

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 6,60,000, the total fees would amount to Rs 59,400.

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

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles registrations for Moogambigai Nagar (Ward-21).