Guideline Value for Mogalingam Nagar Muthu Street

Mogalingam Nagar Muthu Street guideline value

The current guideline value of Mogalingam Nagar Muthu Street is Rs 1,550 per sq.ft, effective from 1 July 2024. This street is located in Thirunageswaram village and falls under the Kunrathur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Mogalingam Nagar Muthu Street has changed

Over the years, the guideline value of Mogalingam Nagar Muthu Street has seen several revisions. The 2012 revision set the value at Rs 1,400 per sq.ft, which changed to Rs 938 per sq.ft in the 2017 revision. This was a decrease of 33%. Following this, the 2023 revision increased the value to Rs 1,400 per sq.ft, and the current 2024 revision has raised it further to Rs 1,550 per sq.ft, marking an increase of 11% from the previous year.

In summary, from the 2012 revision to the 2024 revision, the overall change has been an increase of 11%. The revisions for the years 2002, 2003, and 2007 have no figures registered for this street.

Guideline values in Thirunageswaram

Thirunageswaram village has a total of 105 streets under the Kunrathur SRO, with 2024 guideline values ranging from Rs 800 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 1,550 per sq.ft, which is the same as the 2024 figure for Mogalingam Nagar Muthu Street.

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

Stamp duty and registration fee for property in Mogalingam Nagar Muthu 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 fees together to Rs 1,39,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mogalingam Nagar Muthu Street?

The Mogalingam Nagar Muthu Street is covered by 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 crucial factor in property transactions in Thirunageswaram, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price to ensure compliance with registration requirements.

During the registration process, stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Mogalingam Nagar Muthu 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, an increase of 11%. It was Rs 938 per sq.ft in 2017, showing a significant increase of 49% to 2023.

What are the other streets with the same guideline value in Thirunageswaram?

Other streets in Thirunageswaram with the same guideline value of Rs 1,550 per sq.ft include Mogalingam Nagar Kamokoti Street, Mogalingam Nagar Nainiappan Street, Mogalingam Nagar Ganapathi Street, Mogalingam Nagar Rose Ramalingam Street, Mogalingam Nagar Ekambaram Street, and Mogalingam Nagar T.N.Sammandham Nagar.

What is the registration fee for properties in this area?

The registration fee for properties in Mogalingam Nagar Muthu Street is calculated at 2% of the guideline value. For example, a property valued at Rs 15,50,000 would incur a registration fee of Rs 31,000.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the Kunrathur Sub Registrar Office located at No.59, Road Street, Kundrathur, Chennai -600 069, or by using the provided link to find your SRO.