Guideline Value for Moobika Nagar

Moobika Nagar guideline value

The current guideline value of Moobika Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This locality is situated in Pozhichalur village, under the Pammal Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - II.

How the guideline value of Moobika Nagar has changed

The guideline value for Moobika Nagar has seen significant changes over the years. In the 2007 revision, the value was Rs 400 per sq.ft. This figure increased to Rs 804 per sq.ft in the 2017 revision, marking a 101% rise. The subsequent revision in 2023 saw another increase to Rs 1,200 per sq.ft, which was a 49% increase from the previous figure. The current 2024 revision has set the guideline value at Rs 1,320 per sq.ft, reflecting a 10% increase from 2023.

There are no figures available for the years 2002, 2003, and 2012 for this street in the register. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, which is equal to the 2024 figure for Moobika Nagar. Below are some other streets in Pozhichalur:

• Moorthi Street: Rs 1,320 per sq.ft (2024)
• Moovar Nagar: Rs 1,320 per sq.ft (2024)
• M.K.Stalin Street: Rs 1,320 per sq.ft (2024)
• Millima Nagar: Rs 1,320 per sq.ft (2024)
• M.G.R. Street: Rs 1,320 per sq.ft (2024)
• Murugan Street (4): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Moobika Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, while the registration fee at 2% would be Rs 26,400. Together, the total cost for stamp duty and registration fee would be Rs 1,18,800. Note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Moobika Nagar?

Moobika Nagar falls under the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Pozhichalur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Moobika Nagar?

The current guideline value of Moobika Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 400 per sq.ft to Rs 1,320 per sq.ft in 2024, marking an overall increase of 230%.

What is the land classification for Moobika Nagar?

Moobika Nagar is classified as Residential Class I Type - II, which indicates its suitability for residential development.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value and the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 1,18,800.