Guideline Value for Moogambigai Street

Moogambigai Street guideline value

The current guideline value of Moogambigai Street in Ramapuram village is Rs 3,850 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class I Type - I.

How the guideline value of Moogambigai Street has changed

The guideline value for Moogambigai Street has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 3,500 per sq.ft. In 2017, this value decreased to Rs 2,345 per sq.ft, marking a decline of 33%. However, the value increased significantly to Rs 3,500 per sq.ft in 2023, and then further rose to Rs 3,850 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The jump from Rs 2,345 per sq.ft in 2017 to Rs 3,500 per sq.ft in 2023 represents a substantial increase of 49% within that period. The consistent rise in value from 2023 to 2024 indicates a growing trend in the area.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO, with guideline values ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value is Rs 3,100 per sq.ft, placing Moogambigai Street's 2024 figure above this median.

• Moogambigai Nagar Road: Rs 3,850 per sq.ft (2024)
• Moonlight Ramapuram Pillaiyar Koil: Rs 3,850 per sq.ft (2024)
• Moogambigai Nagar: Rs 3,850 per sq.ft (2024)
• Moogambigai Nagar 4st Street: Rs 3,850 per sq.ft (2024)
• Moogambigai Nagar 3st Street: Rs 3,850 per sq.ft (2024)
• Moogambigai Nagar 2st Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Moogambigai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for these fees to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Moogambigai Street?

Moogambigai Street is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more assistance.

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

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Ramapuram, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that all transactions are in compliance with legal requirements.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. This value not only affects the costs associated with the transaction but also serves as a reference point for property valuation in the area.

Frequently asked questions

What is the current guideline value of Moogambigai Street?

The current guideline value of Moogambigai Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then back to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Moogambigai Street?

For a property valued at Rs 38,50,000, the stamp duty is Rs 2,69,500, and the registration fee is Rs 77,000, totaling Rs 3,46,500.

Which Sub Registrar Office covers Moogambigai Street?

Moogambigai Street is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification of Moogambigai Street?

Moogambigai Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.