Guideline Value for Moogambigai Nagar

Moogambigai Nagar guideline value

The current guideline value of Moogambigai Nagar, located in Noombal village under the Kunrathur SRO, is Rs 2,860 per sq.ft. This value is effective from 1 July 2024. The land classification for this area is Mixed Special Type - I.

How the guideline value of Moogambigai Nagar has changed

The guideline value of Moogambigai Nagar has seen significant changes over the years. The earliest recorded revision was in 2003, where the guideline value was Rs 110 per sq.ft. This increased dramatically to Rs 1,742 per sq.ft in 2017, marking a rise of 1,484%. The value then increased to Rs 2,600 per sq.ft in 2023, a 49% increase from the previous revision. The current value of Rs 2,860 per sq.ft from the 2024 revision reflects a 10% increase from 2023.

There are no recorded figures for the years 2002, 2007, and 2012 for this street. Overall, from the 2003 revision to the current 2024 revision, the guideline value has increased by 2,500%.

Guideline values in Noombal

Noombal village has a total of 164 streets under the Kunrathur SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, placing Moogambigai Nagar's 2024 guideline value above this median.

• Moogambigai Nagar 2nd Cross Street: Rs 2,090 per sq.ft (2024)
• Moogambigai Nagar Ist Cross Street: Rs 2,090 per sq.ft (2024)
• Mooventher Nagar Annexe: Rs 2,090 per sq.ft (2024)
• Mooventher Nagar Phase 1: Rs 2,090 per sq.ft (2024)
• Moventher Nagar: Rs 2,090 per sq.ft (2024)
• Mettu Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Moogambigai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,860 per sq.ft, the total guideline value would be Rs 28,60,000. The stamp duty at 7% would amount to Rs 2,00,200, and the registration fee at 2% would be Rs 57,200, bringing the total cost for these fees to Rs 2,57,400. 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?

The Sub Registrar Office that covers Moogambigai Nagar is 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 Noombal

The guideline value is a crucial factor in the registration process when buying or selling property in Noombal. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that transactions are conducted at standardized values.

When a property is sold, the guideline value helps to ascertain the minimum value at which the property can be registered. This ensures that both buyers and sellers are aware of the official valuation set by the government, which is necessary for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Moogambigai Nagar?

The current guideline value of Moogambigai Nagar is Rs 2,860 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 110 per sq.ft in 2003 to Rs 2,860 per sq.ft in 2024, marking an overall increase of 2,500%.

What is the median guideline value for streets in Noombal?

The median guideline value for streets in Noombal is Rs 2,090 per sq.ft, with Moogambigai Nagar's value being above this median.

What fees are associated with buying property in Moogambigai Nagar?

When buying property in Moogambigai Nagar, the fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Moogambigai Nagar located?

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