Guideline Value for Moogambika Nagar

Moogambika Nagar guideline value

The current guideline value of Moogambika Nagar, located in Santhavellur village, is Rs 305 per sq.ft, effective from 1 July 2024. This area falls under the Sunguvarchattram SRO and is classified as Residential Class I Type - I.

How the guideline value of Moogambika Nagar has changed

The guideline value for Moogambika Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 300 per sq.ft, which was then reduced to Rs 201 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 300 per sq.ft, and the latest revision in 2024 has set it at Rs 305 per sq.ft, reflecting a 2% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, while there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 2%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Santhavellur

In Santhavellur, there are 63 streets under the Sunguvarchattram SRO, with guideline values ranging from Rs 200 to Rs 2,800 per sq.ft. The median guideline value in the village is Rs 500 per sq.ft, making Moogambika Nagar's 2024 figure below that median.

• Mother Therasa Nagar: Rs 305 per sq.ft (2024)
• Mettu Street: Rs 250 per sq.ft (2024)
• Maruthi Avenue: Rs 700 per sq.ft (2024)
• Mariamman Kovil Street: Rs 250 per sq.ft (2024)
• New Andal Nagar: Rs 305 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Moogambika Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 305 per sq.ft, the total guideline value would be Rs 3,05,000. The stamp duty, charged at 7%, would amount to Rs 21,350, and the registration fee, charged at 2%, would be Rs 6,100. Together, these fees would total Rs 27,450. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Moogambika Nagar?

The Sub Registrar Office that covers Moogambika Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

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

When a property is registered, the guideline value is used to calculate the applicable duties and fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Moogambika Nagar?

The current guideline value of Moogambika Nagar is Rs 305 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then to Rs 300 per sq.ft in 2023, and finally to Rs 305 per sq.ft in 2024.

What is the land classification of Moogambika Nagar?

Moogambika Nagar is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for Moogambika Nagar?

The Sub Registrar Office for Moogambika Nagar is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Moogambika Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For a property valued at Rs 3,05,000, the stamp duty would be Rs 21,350 at a rate of 7%.