Guideline Value for Moogambigai Nagar 4th Street

Moogambigai Nagar 4th Street guideline value

The current guideline value of Moogambigai Nagar 4th Street is Rs 2,200 per sq.ft. This street is located in Nerkundram village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Moogambigai Nagar 4th Street has changed

The guideline value for Moogambigai Nagar 4th Street has undergone several revisions over the years. In 2002, the guideline value was Rs 97 per sq.ft, which increased to Rs 250 per sq.ft in 2003, marking a significant rise of 158%. The value then rose to Rs 300 per sq.ft in 2007, a further increase of 20%. Following this, the value saw a substantial jump to Rs 2,000 per sq.ft in 2012, reflecting a 567% increase. However, it decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. The value increased again to Rs 2,000 per sq.ft in 2023, and most recently, it has been revised to Rs 2,200 per sq.ft effective from July 1, 2024, representing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2168%. The register has no figure for this street for the years not mentioned in the revisions above.

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 these streets is Rs 2,200 per sq.ft, which is equal to the current value of Moogambigai Nagar 4th Street.

• Moogambigai Nagar 4th CrossStreet: Rs 2,200 per sq.ft (2024)
• Moogambigai Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Moogambigai Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Moogambigai Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Moogambigai Nagar 3rd Main Road: Rs 2,200 per sq.ft (2024)
• Moogambigai Nagar 7th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Moogambigai Nagar 4th Street

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, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 accurate calculations.

Which Sub Registrar Office covers Moogambigai Nagar 4th Street?

The Sub Registrar Office that covers Moogambigai Nagar 4th 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 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 properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to calculate the applicable duties and fees, which are based on the higher of the guideline value or the actual sale price. This helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Moogambigai Nagar 4th Street?

The current guideline value of Moogambigai Nagar 4th Street is Rs 2,200 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 97 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 2168% over the years.

What is the land classification of Moogambigai Nagar 4th Street?

Moogambigai Nagar 4th Street is classified as Residential Class IV Type - I.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Moogambigai Nagar 4th Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for this street?

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