Guideline Value for Moogambigai Nagar

Moogambigai Nagar guideline value

The current guideline value of Moogambigai Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Pullilyon village, under the Redhills SRO, and is classified as Residential Class I Type - I.

How the guideline value of Moogambigai Nagar has changed

The guideline value for Moogambigai Nagar has seen several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased to Rs 400 per sq.ft in 2012, reflecting a change of 100%. The value then rose to Rs 469 per sq.ft in 2017, marking a 17% increase. By 2023, the guideline value reached Rs 700 per sq.ft, a significant jump of 49%. The latest revision in 2024 set the value at Rs 770 per sq.ft, a 10% increase from the previous year. The register has no figure for this street for the years 2002 and 2003.

Guideline values in Pullilyon

In Pullilyon village, there are 77 streets under the Redhills SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this area is Rs 700 per sq.ft, placing Moogambigai Nagar's 2024 figure above that median.

• Manikandan Nagar: Rs 440 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 440 per sq.ft (2024)
• Madhavaram-Redhills Salai: Rs 770 per sq.ft (2024)
• New Redhills haroon Ullasa City: Rs 770 per sq.ft (2024)
• N.R. Swamy Nagar: Rs 550 per sq.ft (2024)
• Papparappattu Perumal Koil Street: Rs 440 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 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. 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?

The Sub Registrar Office that covers Moogambigai Nagar 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 Pullilyon

The guideline value is a crucial factor in the registration process for property transactions in Pullilyon. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling a property.

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

Frequently asked questions

What is the current guideline value of Moogambigai Nagar?

The current guideline value of Moogambigai Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 200 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, reflecting an overall change of 285% over the years.

What are the stamp duty rates for properties in Moogambigai Nagar?

The stamp duty for properties in Moogambigai Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

What is the registration fee for properties in Moogambigai Nagar?

The registration fee for properties in Moogambigai Nagar is 2% of 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 Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.