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Guideline Value

Corporate

Guideline Value for Moogambigai Nagar 1st Main Road

₹2200/sq.ft.

The guideline value for Moogambigai Nagar 1st Main Road in Nerkundram village (Virugambakkam SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nerkundram

Village

Virugambakkam

SRO

Residential Class IV Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹300 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹250 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹97 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Moogambigai Nagar 1st Main Road

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Moogambigai Nagar 1st Main Road guideline value

The current guideline value of Moogambigai Nagar 1st Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village, under the Virugambakkam SRO, classified as Residential Class IV Type - I.

How the guideline value of Moogambigai Nagar 1st Main Road has changed

The guideline value for Moogambigai Nagar 1st Main Road has seen several revisions over the years. Starting from the lowest recorded value in 2002, which was Rs 97 per sq.ft, the value increased to Rs 250 per sq.ft in 2003. By 2007, it surged to Rs 300 per sq.ft, followed by a significant jump to Rs 2,000 per sq.ft in 2012. However, the value dropped to Rs 1,340 per sq.ft in 2017. The 2023 revision marked an increase to Rs 2,000 per sq.ft, and the latest revision in 2024 raised it further to Rs 2,200 per sq.ft, representing a 10% increase from the previous year.

In terms of percentage changes, from 2017 to 2023, there was a notable increase of 49%. The value saw a decrease of 33% from 2012 to 2017. The jump from 2007 to 2012 was remarkable at 567%, while the increase from 2003 to 2007 was 20%. The value skyrocketed by 158% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 2,168%.

Guideline values in Nerkundram

Nerkundram village has 476 streets under the Virugambakkam SRO, with guideline values for 2024 ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, and Moogambigai Nagar 1st Main Road's 2024 figure aligns with this median.

Stamp duty and registration fee for property in Moogambigai Nagar 1st Main Road

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Please 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 more details.

Which Sub Registrar Office covers Moogambigai Nagar 1st Main Road?

The Sub Registrar Office that covers Moogambigai Nagar 1st Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your specific SRO, you can visit find your SRO.

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

The guideline value is an important factor when registering property transactions in Nerkundram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. It is crucial to note that the stamp duty is calculated based on the higher of the guideline value or the actual sale price, which can influence the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Moogambigai Nagar 1st Main Road?

The current guideline value of Moogambigai Nagar 1st Main Road is Rs 2,200 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 97 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, with various revisions occurring in between.

What is the land classification of Moogambigai Nagar 1st Main Road?

Moogambigai Nagar 1st Main Road is classified as Residential Class IV Type - I.

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

The Sub Registrar Office for Moogambigai Nagar is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Moogambigai Nagar?

Stamp duty is calculated based on the higher of the guideline value or the actual sale price of the property. For example, a property with a guideline value of Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.