Guideline Value for Moogambigai Nagar Annex

Moogambigai Nagar Annex guideline value

The current guideline value of Moogambigai Nagar Annex is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Kovur village under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Moogambigai Nagar Annex has changed

The guideline value for Moogambigai Nagar Annex has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 63 per sq.ft. It increased significantly to Rs 150 per sq.ft in 2007, marking a change of +138%. The 2012 revision saw a decrease to Rs 1,500 per sq.ft, a drop of -33%. However, the value rebounded to Rs 1,005 per sq.ft in 2017, representing a +49% increase. The 2023 revision set the value at Rs 1,500 per sq.ft, and the latest revision in 2024 has raised it to Rs 1,650 per sq.ft, reflecting a +10% increase. The register has no figure for the year 2002 for this street.

Overall, from 2003 to 2024, the guideline value has increased by +2519%. This significant rise illustrates the changing landscape of property values in the area.

Guideline values in Kovur

Kovur village has 91 streets under the Kunrathur SRO, with the 2024 guideline values ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value is Rs 1,650 per sq.ft, which is the same as the guideline value for Moogambigai Nagar Annex.

• Moogambigai Nagar: Rs 1,650 per sq.ft (2024)
• Menaka Nagar: Rs 1,650 per sq.ft (2024)
• Mutharamman Nagar (or) Sri Ambal Nagar II: Rs 1,650 per sq.ft (2024)
• Melandai Madaveethi Street: Rs 1,650 per sq.ft (2024)
• Nadu street: Rs 1,650 per sq.ft (2024)
• Nataraj nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Moogambigai Nagar Annex

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Moogambigai Nagar Annex?

The Sub Registrar Office that covers Moogambigai Nagar Annex is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kovur. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue through stamp duty and registration fees.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and legally, reflecting the true value of the property in the market.

Frequently asked questions

What is the current guideline value of Moogambigai Nagar Annex?

The current guideline value of Moogambigai Nagar Annex is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 63 per sq.ft in 2003 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of +2519% over the years.

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

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office handles registrations in Moogambigai Nagar Annex?

The Kunrathur Sub Registrar Office handles registrations for Moogambigai Nagar Annex, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Moogambigai Nagar Annex?

Moogambigai Nagar Annex is classified as Residential Special Type - I, indicating its suitability for residential development.