Guideline Value for Moogambigai nagar extension 2

Moogambigai nagar extension 2 guideline value

The current guideline value of Moogambigai nagar extension 2 is Rs 1,980 per sq.ft, effective from 1 July 2024. This property 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 2 has changed

The guideline value for Moogambigai nagar extension 2 has undergone several revisions over the years. Starting from the 2007 revision, the value was Rs 200 per sq.ft. This increased significantly to Rs 1,400 per sq.ft in 2012, marking a 600% rise. However, the value then decreased to Rs 938 per sq.ft in 2017, a decline of 33%. The 2023 revision saw a substantial increase to Rs 1,800 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,980 per sq.ft, reflecting a 10% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 890%. It is important to note that 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 that carry 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 guideline value of Moogambigai nagar extension 2.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees 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 the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Moogambigai nagar extension 2?

The Sub Registrar Office that covers Moogambigai nagar extension 2 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 Chikkarayapuram

The guideline value serves as a benchmark for property transactions in Chikkarayapuram. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial aspects of property transactions, including the total cost incurred during registration.

Frequently asked questions

What is the current guideline value of Moogambigai nagar extension 2?

The current guideline value of Moogambigai nagar extension 2 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 from Rs 200 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, representing an overall increase of 890% over this period.

What is the registration office for Moogambigai nagar extension 2?

The registration office for Moogambigai nagar extension 2 is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Moogambigai nagar extension 2?

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 guideline value incurs a stamp duty of Rs 1,38,600 at a rate of 7%.

What are the other streets in Chikkarayapuram with similar guideline values?

Other streets in Chikkarayapuram with similar guideline values include Moogambigai Nagar/Extension Housing Society, Mariamman Koil Street, Narasiman Street, and Mahathma Gandhi Nagar, all at Rs 1,980 per sq.ft in 2024.