Guideline Value for Mogappair West Garden

Mogappair West Garden guideline value

The current guideline value of Mogappair West Garden is Rs 7,100 per sq.ft, effective from 1 July 2024. This property is located in 1. Nolambur village under the Villivakkam SRO, with a land classification of Residential Special Type - I.

How the guideline value of Mogappair West Garden has changed

The guideline value for Mogappair West Garden has undergone several revisions over the years. The earliest recorded revision is from 2017, where the value was Rs 4,355 per sq.ft. This increased significantly to Rs 6,500 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 saw the guideline value rise to Rs 7,100 per sq.ft, which is a 9% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 63%.

Guideline values in 1. Nolambur

In 1. Nolambur village, there are 73 streets under the Villivakkam SRO that carry a 2024 guideline value range 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 the same as the guideline value for Mogappair West Garden.

• Moon Enclave: Rs 7,100 per sq.ft (2024)
• M.C.K. Layout: Rs 5,500 per sq.ft (2024)
• Mani Nagar: Rs 7,100 per sq.ft (2024)
• Madha Koil Street 1 to 8: Rs 5,500 per sq.ft (2024)
• Madha Koil Street: Rs 5,500 per sq.ft (2024)
• Nolambur Main Road: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Mogappair West Garden

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, resulting in a total cost of Rs 6,39,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mogappair West Garden?

The Sub Registrar Office that covers Mogappair West Garden is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

How the guideline value is used when you buy or sell in 1. Nolambur

When buying or selling property in 1. Nolambur, the guideline value is a critical factor used during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that both the buyer and seller are aware of the legal obligations involved in the transaction.

The guideline value helps in establishing a fair price for the property, as it reflects the current market conditions and property classifications. It is essential for both parties to consider this value to avoid any discrepancies during the registration of the property.

Frequently asked questions

What is the current guideline value of Mogappair West Garden?

The current guideline value of Mogappair West Garden 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 4,355 per sq.ft in 2017 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 63% over this period.

What are the other streets in 1. Nolambur with their guideline values?

Other streets in 1. Nolambur include Moon Enclave and Mani Nagar, both at Rs 7,100 per sq.ft, while M.C.K. Layout, Madha Koil Street, and Madha Koil Street 1 to 8 are at Rs 5,500 per sq.ft.

What is the stamp duty rate for properties in Mogappair West Garden?

The stamp duty rate for properties in Mogappair West Garden is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Mogappair West Garden located?

The Sub Registrar Office for Mogappair West Garden is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.