Guideline Value for Moogambigai Nagar Extension

Moogambigai Nagar Extension guideline value

The current guideline value of Moogambigai Nagar Extension is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Chikkarayapuram village under the Kunrathur SRO, classified as Mixed Special Type - I.

How the guideline value of Moogambigai Nagar Extension has changed

Over the years, the guideline value of Moogambigai Nagar Extension has seen several revisions. The 2012 revision set the value at Rs 1,400 per sq.ft, which then decreased to Rs 938 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 1,800 per sq.ft, marking a 92% rise. The latest revision in 2024 has further increased the value to Rs 1,980 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 41%.

Guideline values in Chikkarayapuram

In Chikkarayapuram village, there are 61 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,430 to Rs 2,800 per sq.ft. The median value is Rs 1,980 per sq.ft, which is equal to the guideline value of Moogambigai Nagar Extension.

• Moogambigai nagar extension 2: Rs 1,980 per sq.ft (2024)
• Moogambigai Nagar/Extension Housing Society: Rs 1,980 per sq.ft (2024)
• Mettu street: Rs 1,760 per sq.ft (2024)
• Mariamman Koil Street: Rs 1,980 per sq.ft (2024)
• Narasiman Street: Rs 1,980 per sq.ft (2024)
• Mahathma Gandhi Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Moogambigai Nagar Extension

For a 1,000 sq.ft plot at the current rate of Rs 1,980 per sq.ft, the guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, resulting in a total of Rs 1,78,200. It is important to note that 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 details.

Which Sub Registrar Office covers Moogambigai Nagar Extension?

The Moogambigai Nagar Extension falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Chikkarayapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair price.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Moogambigai Nagar Extension?

The current guideline value of Moogambigai Nagar Extension is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2012 to Rs 1,980 per sq.ft in 2024, with significant changes in between, including a decrease to Rs 938 per sq.ft in 2017 and an increase to Rs 1,800 per sq.ft in 2023.

What is the stamp duty rate for property in Moogambigai Nagar Extension?

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

Where can I find the Sub Registrar Office for Moogambigai Nagar Extension?

The Sub Registrar Office for Moogambigai Nagar Extension is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum value for property registration and is essential for calculating the applicable stamp duty and registration fees during property transactions.