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Guideline Value

Corporate

Guideline Value for Moogambigai Nagar 2nd Street

₹2200/sq.ft.

The guideline value for Moogambigai Nagar 2nd 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 2nd Street

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Moogambigai Nagar 2nd Street guideline value

The current guideline value of Moogambigai Nagar 2nd 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 2nd Street has changed

The guideline value for Moogambigai Nagar 2nd Street has seen several revisions over the years. In 2002, the guideline value was Rs 97 per sq.ft. This increased to Rs 250 per sq.ft in 2003, marking a significant rise of 158%. The value continued to rise, reaching Rs 300 per sq.ft in 2007, which represented a 20% increase. The next revision in 2012 saw the value drop to Rs 2,000 per sq.ft, a decrease of 567% from the previous figure. However, it rebounded to Rs 1,340 per sq.ft in 2017, reflecting a 49% increase. The most recent revisions show a rise to Rs 2,000 per sq.ft in 2023, followed by a final increase to Rs 2,200 per sq.ft in 2024, which is a 10% increase.

The overall change from 2002 to 2024 is a substantial increase of 2168%. Notably, there are no figures available for the revisions in years not mentioned in the provided data.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the guideline value of Moogambigai Nagar 2nd Street.

Stamp duty and registration fee for property in Moogambigai Nagar 2nd 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 to Rs 1,98,000. It is important to 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 further calculations.

Which Sub Registrar Office covers Moogambigai Nagar 2nd Street?

The Sub Registrar Office that covers Moogambigai Nagar 2nd 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 crucial factor during property registration in Nerkundram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring compliance with local regulations.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are based on the higher of the guideline value or the sale price. This ensures that both buyers and sellers are aware of the financial obligations involved in property transactions.

Frequently asked questions

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

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

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

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

How is stamp duty calculated for properties in Moogambigai Nagar 2nd Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 1,54,000 based on the current guideline value.

Where can I find the Sub Registrar Office for Moogambigai Nagar 2nd Street?

The Sub Registrar Office for Moogambigai Nagar 2nd Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find more information online.