Guideline Value for Mogappair Eri Scheme

Mogappair Eri Scheme guideline value

The current guideline value for the Mogappair Eri Scheme is Rs 7,100 per sq.ft, effective from 1 July 2024. This area is located in Mugappair village, under the Konnur SRO, and is classified as Residential Special Type - I.

How the guideline value of Mogappair Eri Scheme has changed

The guideline value for the Mogappair Eri Scheme has seen significant changes over the years. In 2002, the value was Rs 491 per sq.ft, which increased to Rs 539 per sq.ft in 2003. Following this, the value rose dramatically to Rs 2,000 per sq.ft in 2007, and then to Rs 6,500 per sq.ft in 2012. However, it decreased to Rs 4,355 per sq.ft in 2017, before increasing again to Rs 6,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 7,100 per sq.ft.

Between the revisions, the changes were as follows: from 2002 to 2003, there was a 10% increase; from 2003 to 2007, the increase was 271%; from 2007 to 2012, there was a 225% increase; however, from 2012 to 2017, the value decreased by 33%. The value then rose by 49% from 2017 to 2023, and finally, there was a 9% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1346%.

Guideline values in Mugappair

Mugappair village has 224 streets under the Konnur SRO, with guideline values for 2024 ranging from Rs 3,300 to Rs 8,800 per sq.ft. The guideline value for Mogappair Eri Scheme is equal to the median value of Rs 7,100 per sq.ft. Below are the guideline values for other streets in Mugappair:

• Mogappair Road: Rs 7,100 per sq.ft (2024)
• Mogappair Road Segment – 1: Rs 7,100 per sq.ft (2024)
• Mogappair Road (Segment – 1) Thirumangalam Circule to Sidco Arch: Rs 7,100 per sq.ft (2024)
• Mogappair Road Segment - 2 (Sidco Arch to Mogappair East): Rs 7,100 per sq.ft (2024)
• Mogappair Road Segment - 3 (Wavin to Mogappair Road West Water Tank): Rs 7,100 per sq.ft (2024)
• Mogappair Road Segment - 4 (End of the Srinivasa Nagar and near Madhiyazhagan Nagar): Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Mogappair Eri Scheme

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total to Rs 6,39,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mogappair Eri Scheme?

The Mogappair Eri Scheme falls under the jurisdiction of the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these costs are based on an official valuation set by the government.

When a property is being registered, the guideline value must be considered alongside the sale price. The higher of the two values will be used to calculate the applicable stamp duty and registration fees, making it essential for buyers and sellers to be aware of the current guideline value.

Frequently asked questions

What is the current guideline value for Mogappair Eri Scheme?

The current guideline value for the Mogappair Eri Scheme is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 491 per sq.ft in 2002 and reaching Rs 7,100 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Mogappair Eri Scheme?

The land classification for the Mogappair Eri Scheme is Residential Special Type - I.

Where can I find the Sub Registrar Office for Mogappair Eri Scheme?

The Konnur Sub Registrar Office covers the Mogappair Eri Scheme, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the stamp duty calculated for properties in Mogappair?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees can be calculated accordingly.