Guideline Value for MOOGAMBIGAI NAGAR

Moogambigai Nagar guideline value

The current guideline value of Moogambigai Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is located in Arasankalani village, under the Selaiyur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Moogambigai Nagar has changed

The guideline value for Moogambigai Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 1,800 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 1,900 per sq.ft, marking a 6% rise from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Arasankalani

In Arasankalani village, there are 85 streets under the Selaiyur SRO that have a guideline value for 2024 ranging from Rs 1,300 to Rs 4,750 per sq.ft. The median guideline value for these streets is Rs 2,100 per sq.ft, placing Moogambigai Nagar's value below this median.

• M.G.R.Nagar: Rs 1,650 per sq.ft (2024)
• Meenakshi Street: Rs 1,300 per sq.ft (2024)
• M.V.Sai Nagar: Rs 4,100 per sq.ft (2024)
• Mangalam Nagar: Rs 1,650 per sq.ft (2024)
• Majestic Square: Rs 2,100 per sq.ft (2024)
• Nookampalayam Main Road: Rs 2,100 per sq.ft (2024)

Stamp duty and registration fee for property in Moogambigai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total charges to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Moogambigai Nagar?

The Sub Registrar Office that covers Moogambigai Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Arasankalani

The guideline value is a crucial factor when registering a property in Arasankalani. It serves as the basis for calculating the stamp duty and registration fees that are required during the transaction process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. This ensures that the transaction is transparent and that the government receives the appropriate fees based on the property’s value.

Frequently asked questions

What is the current guideline value of Moogambigai Nagar?

The current guideline value of Moogambigai Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification of Moogambigai Nagar?

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

What are the stamp duty rates for properties in Moogambigai Nagar?

The stamp duty for properties in Moogambigai Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Moogambigai Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.