Guideline Value for Moogambaigai Nagar 3st Street

Moogambaigai Nagar 3st Street guideline value

The current guideline value of Moogambaigai Nagar 3st Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO, classified as Residential Class I Type - I.

How the guideline value of Moogambaigai Nagar 3st Street has changed

The guideline value for Moogambaigai Nagar 3st Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was followed by a decrease to Rs 2,345 per sq.ft in the 2017 revision. This marked a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 3,850 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO, with guideline values ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value is Rs 3,100 per sq.ft, placing Moogambaigai Nagar 3st Street's 2024 value above this median.

• Moogambaigai Nagar 2st Street: Rs 3,850 per sq.ft (2024)
• Moogambaigai Nagar 4st Street: Rs 3,850 per sq.ft (2024)
• Moogambaigai Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Moogambigai Nagar: Rs 3,850 per sq.ft (2024)
• Moogambaigai Nagar Road: Rs 3,850 per sq.ft (2024)
• Moogambigai Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Moogambaigai Nagar 3st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Together, the total cost for stamp duty and registration would be Rs 3,46,500. It is important to 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 Moogambaigai Nagar 3st Street?

The Moogambaigai Nagar 3st Street falls under the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor during property transactions in Ramapuram. It serves as the benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value to ensure compliance with registration regulations.

When a property is sold or purchased, the registration office uses the guideline value to calculate applicable duties and fees. This ensures that the transaction reflects the official valuation set by the authorities, providing a standardized approach to property registration.

Frequently asked questions

What is the current guideline value of Moogambaigai Nagar 3st Street?

The current guideline value of Moogambaigai Nagar 3st Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% increase. From 2017 to 2023, it rose from Rs 2,345 per sq.ft to Rs 3,500 per sq.ft, reflecting a 49% increase.

What is the land classification for Moogambaigai Nagar 3st Street?

Moogambaigai Nagar 3st Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for this street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 2,69,500 and the registration fee is Rs 77,000, totaling Rs 3,46,500.

Which Sub Registrar Office covers this area?

The Chennai South Joint II Sub Registrar Office covers Moogambaigai Nagar 3st Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.