Guideline Value for Moogambigai Nagar 2nd St

Moogambigai Nagar 2nd St guideline value

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

Over the years, the guideline value of Moogambigai Nagar 2nd St has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 2,000 per sq.ft, and the latest revision in 2024 has raised it further to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Moogambigai Nagar 2nd St is below this median.

• Moogambigai Nagar 1st 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)
• Moogambigai Nagar 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 2nd 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, making the total cost for these charges 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.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Moogambigai Nagar 2nd St?

The Sub Registrar Office covering Moogambigai Nagar 2nd 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 details.

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

The guideline value is a crucial factor when registering property transactions in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property being transacted. It is important for buyers to be aware of the guideline value to ensure they are not overpaying for the property.

Frequently asked questions

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

The current guideline value of Moogambigai Nagar 2nd 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 changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Moogambigai Nagar 2nd St?

Moogambigai Nagar 2nd St is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty is Rs 1,54,000 and the registration fee is Rs 44,000, totaling Rs 1,98,000.

Which office handles the registration for Moogambigai Nagar 2nd St?

The Tambaram Joint 1 Sub Registrar Office handles the registration for Moogambigai Nagar 2nd St, located at No.26, Mes Road, East Tambaram, Chennai-600059.