Guideline Value for Mogalingam nagar Ganapathi Street

Mogalingam nagar Ganapathi Street guideline value

The current guideline value of Mogalingam nagar Ganapathi 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 Ganapathi Street has changed

Looking at the historical revisions, the guideline value for Mogalingam nagar Ganapathi Street was Rs 1,400 per sq.ft in 2023, which increased to Rs 1,550 per sq.ft in the 2024 revision, marking an increase of 11%. Prior to that, in 2017, the guideline value was Rs 938 per sq.ft, reflecting a significant increase of 49% over the six years leading up to 2023. The 2012 revision listed the value at Rs 1,400 per sq.ft, which was a decrease of 33% from the 2017 figure.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, comparing the 2012 revision to the current 2024 value, there has been an increase of 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, with a median value of Rs 1,550 per sq.ft. The guideline value for Mogalingam nagar Ganapathi Street is equal to this median.

• Mogalingam Nagar Ekambaram Street: Rs 1,550 per sq.ft (2024)
• Mogalingam Nagar Kamokoti Street: Rs 1,550 per sq.ft (2024)
• Mogalingam Nagar Baskar 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 Ganapathi 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 cost for these fees 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 details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mogalingam nagar Ganapathi Street?

The Mogalingam nagar Ganapathi Street is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Thirunageswaram. It is the benchmark value set by the government for various properties and is used to determine the stamp duty and registration fees applicable during the sale or purchase of a property.

When a property is bought or sold, the guideline value ensures that the transaction is recorded at a value that reflects the official rates, thereby maintaining transparency in property dealings. This helps in preventing undervaluation and ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mogalingam nagar Ganapathi Street?

The current guideline value of Mogalingam nagar Ganapathi 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 seen several changes, with the 2024 revision at Rs 1,550 per sq.ft, up from Rs 1,400 per sq.ft in 2023. The value has increased by 49% from Rs 938 per sq.ft in 2017 and decreased from Rs 1,400 per sq.ft in 2012.

What is the stamp duty for property in Mogalingam nagar Ganapathi Street?

The stamp duty for property in Mogalingam nagar Ganapathi Street is calculated at 7% of the guideline value. For a plot valued at Rs 15,50,000, the stamp duty would amount to Rs 1,08,500.

Which office handles property registrations for this street?

The Kunrathur Sub Registrar Office handles property registrations for Mogalingam nagar Ganapathi Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Mogalingam nagar Ganapathi Street?

The land classification for Mogalingam nagar Ganapathi Street is Residential Special Type - II, indicating its designated use for residential purposes.