Guideline Value for Moogambigai Nagar/Extension Housing Society

Moogambigai Nagar/Extension Housing Society guideline value

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

How the guideline value of Moogambigai Nagar/Extension Housing Society has changed

The guideline value for Moogambigai Nagar/Extension Housing Society has undergone several revisions over the years. The earliest recorded figure is from 2007, when it was Rs 300 per sq.ft. This increased significantly to Rs 1,400 per sq.ft in 2012, followed by a decrease to Rs 938 per sq.ft in 2017. The value then rose sharply to Rs 1,800 per sq.ft in 2023, and currently stands at Rs 1,980 per sq.ft as per the 2024 revision, reflecting a 10% increase from the previous year.

Between the revisions, the most notable change was from 2007 to 2012, which saw an increase of 367%. The period from 2017 to 2023 marked a substantial increase of 92%. Overall, the guideline value has increased by 560% from 2007 to 2024. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chikkarayapuram

In Chikkarayapuram, there are 61 streets under the Kunrathur SRO with 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 current guideline value for Moogambigai Nagar/Extension Housing Society.

• Moogambigai nagar extension 2: Rs 1,980 per sq.ft (2024)
• Moogambigai Nagar Extension: 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 Housing Society

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Moogambigai Nagar/Extension Housing Society?

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

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

The guideline value is a crucial factor during the registration process when buying or selling property in Chikkarayapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately.

When a property is sold, the guideline value helps in assessing the official value of the property for taxation purposes. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, as duty is charged on the higher of the two.

Frequently asked questions

What is the current guideline value for Moogambigai Nagar/Extension Housing Society?

The current guideline value for Moogambigai Nagar/Extension Housing Society 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 significantly from Rs 300 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 560% over this period.

What is the land classification for Moogambigai Nagar/Extension Housing Society?

Moogambigai Nagar/Extension Housing Society is classified as Mixed Special Type - I.

Where can I find the registration office for Moogambigai Nagar/Extension Housing Society?

The registration office for Moogambigai Nagar/Extension Housing Society is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Moogambigai Nagar/Extension Housing Society?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 1,38,600.