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Guideline Value

Corporate

Guideline Value for Moogambigai Nagar 2nd Main Road

₹2200/sq.ft.

The guideline value for Moogambigai Nagar 2nd 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 2nd Main Road

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Moogambigai Nagar 2nd Main Road guideline value

The current guideline value of Moogambigai Nagar 2nd Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Moogambigai Nagar 2nd Main Road has changed

The guideline value for Moogambigai Nagar 2nd Main Road has undergone several revisions over the years. The earliest recorded value in 2002 was Rs 97 per sq.ft. This figure increased to Rs 250 per sq.ft in 2003, marking a significant rise of 158%. In 2007, the value saw another increase to Rs 300 per sq.ft, which was a 20% increase from the previous year. The 2012 revision brought the value back up to Rs 2,000 per sq.ft, representing a substantial increase of 567% from 2007. However, in 2017, the guideline value decreased to Rs 1,340 per sq.ft, reflecting a decline of 33% from 2012. The value rose again to Rs 2,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 2,200 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2168%, illustrating significant changes in the valuation over the years.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value for the village is Rs 2,200 per sq.ft, which matches the current value for Moogambigai Nagar 2nd Main Road.

Stamp duty and registration fee for property in Moogambigai Nagar 2nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. 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 Moogambigai Nagar 2nd Main Road?

The Sub Registrar Office that covers Moogambigai Nagar 2nd Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Nerkundram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transfer of property ownership.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Moogambigai Nagar 2nd Main Road?

The current guideline value of Moogambigai Nagar 2nd 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 changed significantly from Rs 97 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 2168% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000 in fees.

Which office do I need to visit for registration?

The Virugambakkam Sub Registrar Office is responsible for the registration of properties in Moogambigai Nagar 2nd Main Road, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

Are there other streets in Nerkundram with the same guideline value?

Yes, several other streets in Nerkundram have the same guideline value of Rs 2,200 per sq.ft. These include Moogambigai Nagar 2nd Street, 2nd CrossStreet, 3rd CrossStreet, 1st Street, 3rd Main Road, and 1st Main Road.