Guideline Value for Moogambigai Nagar Extn

Moogambigai Nagar Extn guideline value

The current guideline value of Moogambigai Nagar Extn is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Thandalkazhani village, under the Redhills SRO, and is classified as Residential Class II Type - I.

How the guideline value of Moogambigai Nagar Extn has changed

The guideline value for Moogambigai Nagar Extn has seen several revisions over the years. In 2007, the guideline value was Rs 300 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012. However, it then decreased to Rs 536 per sq.ft in 2017. The 2023 revision set the value at Rs 800 per sq.ft, which was later increased to Rs 880 per sq.ft in 2024, reflecting a 10% increase.

Between the 2017 and 2023 revisions, the value rose by 49%. The jump from 2007 to 2012 marked a 167% increase, while the overall change from 2007 to 2024 is a significant 193%. The guideline register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thandalkazhani

In Thandalkazhani, there are 27 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 2,750 per sq.ft. The median value is Rs 880 per sq.ft, which is equal to the current guideline value of Moogambigai Nagar Extn.

• Moogambigai Nagar: Rs 880 per sq.ft (2024)
• M.G.R. Street: Rs 880 per sq.ft (2024)
• Nehru Street: Rs 880 per sq.ft (2024)
• Nethaji Nagar: Rs 1,210 per sq.ft (2024)
• Nethaji Subash Chandrabose Nagar: Rs 1,210 per sq.ft (2024)
• Madha Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Moogambigai Nagar Extn

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, making the total Rs 79,200. 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 details.

Which Sub Registrar Office covers Moogambigai Nagar Extn?

The Sub Registrar Office that covers Moogambigai Nagar Extn is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Thandalkazhani. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Moogambigai Nagar Extn?

The current guideline value of Moogambigai Nagar Extn is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 300 per sq.ft in 2007, increasing to Rs 800 in 2012, dropping to Rs 536 in 2017, and then rising to Rs 800 in 2023 before reaching Rs 880 in 2024.

What is the land classification of Moogambigai Nagar Extn?

Moogambigai Nagar Extn is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Moogambigai Nagar Extn?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 at 7%.