Guideline Value for Moogambigai Nagar 1st St

Moogambigai Nagar 1st St guideline value

The current guideline value for Moogambigai Nagar 1st St is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - II.

How the guideline value of Moogambigai Nagar 1st St has changed

The guideline value for Moogambigai Nagar 1st St has undergone several revisions over the years. The 2007 revision set the value at Rs 620 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, from 2012 to 2017, there was a decrease to Rs 1,340 per sq.ft. The value then rose to Rs 2,000 per sq.ft in 2023, before reaching the current rate of Rs 2,200 per sq.ft in the 2024 revision.

Overall, the guideline value has increased by 255% from 2007 to 2024. Notably, the change from 2023 to 2024 reflects a 10% increase, while the jump from 2017 to 2023 was a substantial 49%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Moogambigai Nagar 1st St below this median.

• Moogambigai Nagar 2nd St: Rs 2,200 per sq.ft (2024)
• Moogambigai Nagar 3rd st: Rs 2,200 per sq.ft (2024)
• Moogambigai Nagar 4th st: Rs 2,200 per sq.ft (2024)
• MoogambigaiNagar Ext: Rs 2,200 per sq.ft (2024)
• M.K. Reddy Street: Rs 6,600 per sq.ft (2024)
• M.R. Chetty Street: Rs 1,320 per sq.ft (2024)

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

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 also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Moogambigai Nagar 1st St?

The Sub Registrar Office that covers Moogambigai Nagar 1st St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Tambaram. It serves as the benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

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

The current guideline value for Moogambigai Nagar 1st St 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 seen several revisions, increasing from Rs 620 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 255% since 2007.

What is the stamp duty rate for properties in Moogambigai Nagar 1st St?

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

Where is the Sub Registrar Office for Moogambigai Nagar 1st St located?

The Sub Registrar Office for Moogambigai Nagar 1st St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Moogambigai Nagar 1st St?

Moogambigai Nagar 1st St is classified as Residential Class I Type - II.