Guideline Value for Mogappair School Street (Mogappair East)

Mogappair School Street (Mogappair East) guideline value

The current guideline value of Mogappair School Street (Mogappair East) is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village and falls under the Konnur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Mogappair School Street (Mogappair East) has changed

Over the years, the guideline value for Mogappair School Street has seen significant changes. The earliest recorded figure is from 2002, when the guideline value was Rs 549 per sq.ft. This increased to Rs 603 per sq.ft in 2003, marking a 10% rise. In 2007, the value jumped to Rs 1,500 per sq.ft, reflecting a substantial increase of 149%. The value then rose to Rs 6,500 per sq.ft in 2012, which was a 333% increase from the previous revision. However, it decreased to Rs 4,355 per sq.ft in 2017, showing a decline of 33%.

From 2017 to 2023, the guideline value surged to Rs 6,500 per sq.ft, representing a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 7,100 per sq.ft, a 9% increase from the previous year. There are no figures available for any other revisions for this street.

Guideline values in Mugappair

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

• Mogappair Road Segment - 4 (End of the Srinivasa Nagar and near Madhiyazhagan Nagar): Rs 7,100 per sq.ft (2024)
• Mogappair Vennus Street: Rs 3,300 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 - 2 (Sidco Arch to Mogappair East): 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 – 1: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Mogappair School Street (Mogappair East)

For a 1,000 sq.ft plot at the current rate 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, while the registration fee at 2% would be Rs 1,42,000. Together, the total cost for these fees would be Rs 6,39,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Mogappair School Street (Mogappair East)?

The Sub Registrar Office that covers Mogappair School Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Mugappair. It serves as a benchmark for determining the minimum value of a property, ensuring that the registration fees and stamp duties are calculated fairly. Buyers and sellers must consider this value when negotiating the sale price to ensure compliance with local regulations.

When registering a property, the guideline value is used to assess the applicable stamp duty and registration fees. These fees are calculated based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mogappair School Street?

The current guideline value of Mogappair School Street (Mogappair East) 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 significantly from Rs 549 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting a total increase of 1193% over the years.

What is the land classification for Mogappair School Street?

The land classification for Mogappair School Street is Residential Special Type - I, indicating its suitability for residential development.

Where can I find the registration office for Mogappair School Street?

The registration office for Mogappair School Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How are stamp duties calculated for properties in Mogappair?

Stamp duties for properties in Mogappair are calculated based on the higher of the guideline value or the sale price. This ensures that the appropriate fees are collected during property registration.