Guideline Value for Moogambigai Nagar 12th Street

Moogambigai Nagar 12th Street guideline value

The current guideline value of Moogambigai Nagar 12th 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 12th Street has changed

The guideline value for Moogambigai Nagar 12th 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 rise of 158%. By 2007, the value jumped to Rs 300 per sq.ft, a 20% increase. The value then experienced a substantial increase to Rs 2,000 per sq.ft in 2012, reflecting a 567% rise. However, it decreased to Rs 1,340 per sq.ft in 2017, which was a decline of 33%. The value rose again to Rs 2,000 per sq.ft in 2023, and as of the latest revision in 2024, it stands at Rs 2,200 per sq.ft, showing a 10% increase from the previous year.

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

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 the same as the guideline value for Moogambigai Nagar 12th Street.

• Moogambigai Nagar 11th Street: Rs 2,200 per sq.ft (2024)
• Moogambigai Nagar 13th Street: Rs 2,200 per sq.ft (2024)
• Moogambigai Nagar 10th Street: Rs 2,200 per sq.ft (2024)
• Moogambigai Nagar 1st CrossStreet: Rs 2,200 per sq.ft (2024)
• Moogambigai Nagar 1st Main Road: Rs 2,200 per sq.ft (2024)
• Moogambigai Nagar 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Moogambigai Nagar 12th 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 cost for these fees 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 more detailed calculations.

Which Sub Registrar Office covers Moogambigai Nagar 12th Street?

The Sub Registrar Office that covers Moogambigai Nagar 12th 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 when buying or selling property in Nerkundram. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the property is not undervalued during the transaction.

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 means that buyers should be aware of the current guideline values to accurately estimate their costs during the purchase process.

Frequently asked questions

What is the current guideline value of Moogambigai Nagar 12th Street?

The current guideline value of Moogambigai Nagar 12th 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, showing significant changes across various revisions.

What is the stamp duty rate for properties in Moogambigai Nagar 12th Street?

The stamp duty rate for properties in Moogambigai Nagar 12th Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Moogambigai Nagar 12th Street located?

The Sub Registrar Office for Moogambigai Nagar 12th Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Moogambigai Nagar 12th Street?

Moogambigai Nagar 12th Street is classified as Residential Class IV Type - I.