Guideline Value for MOOGAMBIGAI NAGAR

Moogambigai Nagar guideline value

The current guideline value of Moogambigai Nagar is Rs 1,105 per sq.ft, effective from 1 July 2024. This area is located in Sembulivaram village under the Redhills SRO, classified as Residential Class III Type - I.

How the guideline value of Moogambigai Nagar has changed

The guideline value for Moogambigai Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 1,005 per sq.ft, which remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 1,105 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, there has been a total increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sembulivaram

In Sembulivaram, there are 16 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 1,650 per sq.ft, with a median value of Rs 1,210 per sq.ft. Moogambigai Nagar's 2024 figure is below this median.

• K.J. Hospital Street: Rs 550 per sq.ft (2024)
• K.J. Hospital 2nd Street: Rs 550 per sq.ft (2024)
• K.J. Hospital 1st Street: Rs 550 per sq.ft (2024)
• Perumal Koil Street: Rs 1,210 per sq.ft (2024)
• Gnt Road: Rs 1,650 per sq.ft (2024)
• Eswaran Koil Street: Rs 1,210 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 1,105 per sq.ft, the total guideline value amounts to Rs 11,05,000. The stamp duty at 7% would be Rs 77,350, and the registration fee at 2% would be Rs 22,100, bringing the total cost for these fees to Rs 99,450. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Moogambigai Nagar?

The Sub Registrar Office that covers Moogambigai Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

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

When you proceed with a transaction, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Moogambigai Nagar?

The current guideline value of Moogambigai Nagar is Rs 1,105 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Moogambigai Nagar has increased from Rs 1,005 per sq.ft in 2017 to Rs 1,105 per sq.ft in 2024, marking a 10% increase. The 2023 revision did not change the value from the 2017 revision.

What is the land classification of Moogambigai Nagar?

Moogambigai Nagar is classified as Residential Class III Type - I. This classification is important for understanding the zoning and usage regulations in the area.

What are the stamp duty and registration fees for property in Moogambigai Nagar?

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or sale price, whichever is higher. For example, for a plot valued at Rs 11,05,000, the total fees would amount to Rs 99,450.

Which Sub Registrar Office covers Moogambigai Nagar?

The Redhills Sub Registrar Office covers Moogambigai Nagar. It is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.