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Guideline Value

Corporate

Guideline Value for Moogambigai Nagar 1st Street

₹2200/sq.ft.

The guideline value for Moogambigai Nagar 1st Street 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 Street

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Moogambigai Nagar 1st Street guideline value

The current guideline value for Moogambigai Nagar 1st Street 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 Street has changed

The guideline value for Moogambigai Nagar 1st Street has seen several revisions over the years. In 2002, the value was Rs 97 per sq.ft, which increased to Rs 250 per sq.ft in 2003, marking a significant rise of 158%. By 2007, the value jumped to Rs 300 per sq.ft, reflecting a 20% increase. The 2012 revision saw the value rise to Rs 2,000 per sq.ft, a substantial increase of 567%. However, this value decreased to Rs 1,340 per sq.ft in 2017, showing a decline of 33%. The value then increased to Rs 2,000 per sq.ft in 2023, and most recently, it has risen to Rs 2,200 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 2168%. There are no figures available for the revisions in years other than those specified.

Guideline values in Nerkundram

Nerkundram 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 as of 2024. The median value is Rs 2,200 per sq.ft, which is equal to the guideline value of Moogambigai Nagar 1st Street.

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

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 charges to Rs 1,98,000. It is important to note that 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 more detailed calculations.

Which Sub Registrar Office covers Moogambigai Nagar 1st Street?

The Sub Registrar Office that covers Moogambigai Nagar 1st Street 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 is a critical factor when registering property transactions in Nerkundram. It serves as a benchmark for determining the value of the property for the purpose of calculating stamp duty and registration fees. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value helps in establishing a fair value for taxation purposes. It is essential for both parties to understand this value to avoid discrepancies and ensure a smooth transaction.

Frequently asked questions

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

The current guideline value of Moogambigai Nagar 1st Street 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 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 is the stamp duty rate for properties in Moogambigai Nagar 1st Street?

The stamp duty rate for properties in Moogambigai Nagar 1st Street is 7% of the guideline value or the sale price, whichever is higher.

Which office handles registrations for Moogambigai Nagar 1st Street?

The Virugambakkam Sub Registrar Office handles registrations for Moogambigai Nagar 1st Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What are the other streets in Nerkundram with the same guideline value?

Other streets in Nerkundram with a guideline value of Rs 2,200 per sq.ft include Moogambigai Nagar 1st Main Road, Moogambigai Nagar 2nd CrossStreet, Moogambigai Nagar 1st CrossStreet, Moogambigai Nagar 13th Street, Moogambigai Nagar 2nd Main Road, and Moogambigai Nagar 12th Street.