Guideline Value for Moogambigai Nagar 7th Street

Moogambigai Nagar 7th Street guideline value

The current guideline value of Moogambigai Nagar 7th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. 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 7th Street has changed

The guideline value for Moogambigai Nagar 7th Street has seen significant changes 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 change of +158%. The value rose to Rs 300 per sq.ft in 2007, an increase of +20%. Following this, the value surged to Rs 2,000 per sq.ft in 2012, representing a remarkable increase of +567%. However, in 2017, it decreased to Rs 1,340 per sq.ft, a decline of -33%. The value then climbed to Rs 2,000 per sq.ft in 2023, and most recently, it has risen to Rs 2,200 per sq.ft in 2024, reflecting a change of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +2168%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Nerkundram

In Nerkundram village, 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 guideline value is Rs 2,200 per sq.ft, which is equal to the current figure for Moogambigai Nagar 7th Street.

• Moogambigai Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Moogambigai Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• Moogambigai Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Moogambigai Nagar 9th Street: Rs 2,200 per sq.ft (2024)
• Moogambigai Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Moogambigai Nagar 4th CrossStreet: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Moogambigai Nagar 7th 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, totaling 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 precise calculations.

Which Sub Registrar Office covers Moogambigai Nagar 7th Street?

The Moogambigai Nagar 7th Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware that the registration fees and stamp duty are calculated based on this guideline value, which influences the overall cost of the transaction.

When buying or selling property in Nerkundram, it is essential to consult the latest guideline values to ensure compliance with local regulations. The guideline value helps in establishing a fair transaction price and is a reference point for both parties involved in the sale.

Frequently asked questions

What is the current guideline value for Moogambigai Nagar 7th Street?

The current guideline value for Moogambigai Nagar 7th 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 a significant overall increase of +2168%.

What is the median guideline value in Nerkundram?

The median guideline value in Nerkundram is Rs 2,200 per sq.ft, which is the same as the current guideline value for Moogambigai Nagar 7th Street.

What is the stamp duty for property in Moogambigai Nagar 7th Street?

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

Where is the Sub Registrar Office for Moogambigai Nagar 7th Street located?

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