Guideline Value for MOOGAMBIGAI NAGAR ANNEX-1

Moogambigai Nagar Annex-1 guideline value

The current guideline value of Moogambigai Nagar Annex-1 is Rs 1,165 per sq.ft, effective from 1 July 2024. This area is located in Sholavaram village, under the Redhills SRO, and is classified as Residential Special Type - II.

How the guideline value of Moogambigai Nagar Annex-1 has changed

In the 2023 revision, the guideline value was Rs 1,060 per sq.ft. The increase from 2023 to 2024 is 10%, bringing the current value to Rs 1,165 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Thus, the only available revisions are from 2023 and 2024. The 2024 revision shows a significant increase in the guideline value compared to the previous year.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 515 to Rs 3,500 per sq.ft. The median value for these streets is Rs 660 per sq.ft, indicating that Moogambigai Nagar Annex-1's 2024 figure is above this median.

• Moogambigai Nagar Annex: Rs 1,005 per sq.ft (2024)
• Murasoli Singaram Nagar: Rs 710 per sq.ft (2024)
• Nehru Street: Rs 1,320 per sq.ft (2024)
• New Diamond City: Rs 550 per sq.ft (2024)
• Loga Surya Nagar: Rs 660 per sq.ft (2024)
• New Star City Diamond: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Moogambigai Nagar Annex-1

For a 1,000 sq.ft plot at the current guideline value of Rs 1,165 per sq.ft, the total guideline value amounts to Rs 11,65,000. The stamp duty at 7% would be Rs 81,550, and the registration fee at 2% would be Rs 23,300, totaling Rs 1,04,850. 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 details.

Which Sub Registrar Office covers Moogambigai Nagar Annex-1?

The Moogambigai Nagar Annex-1 falls under the jurisdiction of the Redhills Sub Registrar Office. The address is Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is an important factor when registering property transactions in Sholavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

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 stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the value of the property.

Frequently asked questions

What is the current guideline value of Moogambigai Nagar Annex-1?

The current guideline value of Moogambigai Nagar Annex-1 is Rs 1,165 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 1,060 per sq.ft in 2023 to Rs 1,165 per sq.ft in 2024, marking a 10% rise. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What is the land classification for Moogambigai Nagar Annex-1?

Moogambigai Nagar Annex-1 is classified as Residential Special Type - II. This classification can affect the guideline value and property usage in the area.

Where can I find the Redhills Sub Registrar Office?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. This office handles property registrations for the Moogambigai Nagar Annex-1 area.

How is stamp duty calculated for properties in Moogambigai Nagar Annex-1?

Stamp duty for properties in Moogambigai Nagar Annex-1 is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty amounts to Rs 81,550.