Guideline Value for Moogambiga Nagar

Moogambiga Nagar guideline value

The current guideline value of Moogambiga Nagar is Rs 605 per sq.ft, effective from 1 July 2024. This area is located in Thirumangalam village, under the Sunguvarchattram SRO. The land classification for this street is Residential Class IV Type - I.

How the guideline value of Moogambiga Nagar has changed

The guideline value for Moogambiga Nagar has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 200 per sq.ft. This increased to Rs 405 per sq.ft in 2017, marking a significant rise of 103%. The value then saw a substantial increase to Rs 605 per sq.ft in 2023, which remained unchanged in the 2024 revision.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 203%, reflecting the changes in the area over time.

Guideline values in Thirumangalam

In Thirumangalam, there are 42 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 2,000 per sq.ft. The median value is Rs 605 per sq.ft, and the 2024 guideline value for Moogambiga Nagar aligns with this median.

• Mettu Street: Rs 300 per sq.ft (2024)
• Naidu Street: Rs 250 per sq.ft (2024)
• Malai Matha Nagar: Rs 605 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 800 per sq.ft (2024)
• Om Nagar: Rs 605 per sq.ft (2024)
• Padmavathi Nagar: Rs 605 per sq.ft (2024)

Stamp duty and registration fee for property in Moogambiga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 605 per sq.ft, the total guideline value would be Rs 6,05,000. The stamp duty at 7% would amount to Rs 42,350, and the registration fee at 2% would be Rs 12,100, resulting in a total cost of Rs 54,450. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Moogambiga Nagar?

The Sub Registrar Office that covers Moogambiga Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thirumangalam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Moogambiga Nagar?

The current guideline value of Moogambiga Nagar is Rs 605 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 405 per sq.ft in 2017, and then to Rs 605 per sq.ft in 2023 and 2024. This reflects an overall increase of 203% from 2012 to 2024.

What is the land classification for Moogambiga Nagar?

Moogambiga Nagar is classified as Residential Class IV Type - I, indicating its designation for residential use.

What are the registration fees for property transactions in Moogambiga Nagar?

The registration fees include a stamp duty of 7% on the guideline value and a registration fee of 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Moogambiga Nagar?

The Sub Registrar Office for Moogambiga Nagar is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find more details through the provided link.