Guideline Value for Mogalingam Nagar Nainiappan Street

Mogalingam Nagar Nainiappan Street guideline value

The current guideline value of Mogalingam Nagar Nainiappan 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 Nainiappan Street has changed

The guideline value for Mogalingam Nagar Nainiappan Street has undergone several revisions in recent years. In 2012, the guideline value was set at Rs 1,400 per sq.ft. This value decreased to Rs 938 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,400 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 1,550 per sq.ft, which is an 11% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, comparing the values from 2012 to 2024, there has been an increase of 11% in the guideline value.

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 guideline value for these streets is Rs 1,550 per sq.ft, which is equal to the 2024 guideline value of Mogalingam Nagar Nainiappan Street.

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,550 per sq.ft, the total guideline value would be Rs 15,50,000. The stamp duty at 7% would amount to Rs 1,08,500, and the registration fee at 2% would be Rs 31,000, bringing the total to Rs 1,39,500. 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 information.

Which Sub Registrar Office covers Mogalingam Nagar Nainiappan Street?

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

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thirunageswaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider the guideline value to ensure compliance with the local regulations during the registration process.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This means that understanding the current guideline value is essential for both parties to accurately assess the financial implications of the transaction.

Frequently asked questions

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

The current guideline value of Mogalingam Nagar Nainiappan 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, marking an 11% increase. It was Rs 938 per sq.ft in 2017 and Rs 1,400 per sq.ft in 2012, indicating a 49% increase from 2017 to 2023.

What is the land classification for Mogalingam Nagar Nainiappan Street?

The land classification for Mogalingam Nagar Nainiappan Street is Residential Special Type - II. This classification is relevant for determining the uses permitted in the area.

Where can I find the registration office for this area?

The registration office for Mogalingam Nagar Nainiappan Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Thirunageswaram?

The stamp duty for properties in Thirunageswaram is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 15,50,000, the stamp duty at 7% would be Rs 1,08,500.