Guideline Value for Mogappair Road

Mogappair Road guideline value

The current guideline value of Mogappair Road, located in Mugappair village under the Konnur SRO, is Rs 7,100 per sq.ft as of the 2024 revision, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Mogappair Road has changed

The guideline value of Mogappair Road has seen significant changes over the years. In 2002, the value was Rs 465 per sq.ft, which increased to Rs 622 per sq.ft in 2003, marking a 34% rise. The value continued to grow, reaching Rs 2,000 per sq.ft in 2007, a substantial increase of 222%. The 2012 revision saw the value drop to Rs 6,500 per sq.ft, a decrease of 33% from the previous figure. In 2017, it rose to Rs 4,355 per sq.ft, and then to Rs 6,500 per sq.ft in 2023, reflecting a 49% increase.

The most recent revision in 2024 set the guideline value at Rs 7,100 per sq.ft, which is a 9% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by 1,427%.

Guideline values in Mugappair

Mugappair village features 224 streets under the Konnur SRO, with current values ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, which is equal to the current guideline value of Mogappair Road.

• Mogappair Eri Scheme: 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 Road

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total 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 fees to Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Mogappair Road?

The Sub Registrar Office that covers Mogappair Road is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role when buying or selling property in Mugappair. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware that the guideline value is the minimum value considered for these fees, regardless of the actual sale price.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in real estate dealings. It is essential for both parties to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Mogappair Road?

The current guideline value of Mogappair Road 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 increased from Rs 465 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 1,427% over this period.

What are the stamp duty and registration fees for a property in Mogappair Road?

For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Which Sub Registrar Office handles transactions for Mogappair Road?

The Konnur Sub Registrar Office handles transactions for Mogappair Road, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the land classification for Mogappair Road?

The land classification for Mogappair Road is Residential Special Type - I, indicating its designated use for residential purposes.