Guideline Value for Mogalingam Nagar Baskar Street

Mogalingam Nagar Baskar Street guideline value

The current guideline value of Mogalingam Nagar Baskar Street is Rs 1,550 per sq.ft, effective from 1 July 2024. This street is located in Thirunageswaram village, under the Kunrathur SRO, and is classified as Residential Special Type - II.

How the guideline value of Mogalingam Nagar Baskar Street has changed

Over the years, the guideline value for Mogalingam Nagar Baskar Street has seen several revisions. The 2012 revision set the value at Rs 1,400 per sq.ft, which was then reduced to Rs 938 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,400 per sq.ft in the 2023 revision, and it has now risen to Rs 1,550 per sq.ft in the 2024 revision.

From the 2023 to 2024 revision, there was an increase of 11%. The jump from 2017 to 2023 saw a substantial rise of 49%. However, the 2012 to 2017 period recorded a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Thirunageswaram

In Thirunageswaram, there are 105 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft. The median value among these streets is Rs 1,550 per sq.ft, which is the same as the guideline value of Mogalingam Nagar Baskar Street.

• Mogalingam Nagar Ekambaram Street: Rs 1,550 per sq.ft (2024)
• Mogalingam nagar Ganapathi Street: Rs 1,550 per sq.ft (2024)
• Mogalingam Nagar Kamokoti Street: Rs 1,550 per sq.ft (2024)
• Mogalingam Nagar Muthu Street: Rs 1,550 per sq.ft (2024)
• Mogalingam Nagar Nainiappan Street: Rs 1,550 per sq.ft (2024)
• Mogalingam Nagar Rose Ramalingam Street: Rs 1,550 per sq.ft (2024)

Stamp duty and registration fee for property in Mogalingam Nagar Baskar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,550 per sq.ft, the total guideline value amounts to Rs 15,50,000. The stamp duty at 7% would be Rs 1,08,500, and the registration fee at 2% would be Rs 31,000, bringing the total to Rs 1,39,500. It is important to note that the 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 Mogalingam Nagar Baskar Street?

The Sub Registrar Office that covers Mogalingam Nagar Baskar Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process for property transactions in Thirunageswaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately according to government standards.

When buying or selling property, the guideline value influences the stamp duty and registration fees that must be paid. Buyers should be aware that these costs are calculated based on the guideline value or the actual sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mogalingam Nagar Baskar Street?

The current guideline value of Mogalingam Nagar Baskar Street is Rs 1,550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2023 to Rs 1,550 per sq.ft in 2024. It was Rs 938 per sq.ft in 2017 and Rs 1,400 per sq.ft in 2012.

What is the land classification for Mogalingam Nagar Baskar Street?

Mogalingam Nagar Baskar Street is classified as Residential Special Type - II.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 15,50,000 would incur a stamp duty of Rs 1,08,500 at 7%.