Guideline Value for Moogambikai Nagar

Moogambikai Nagar guideline value

The current guideline value of Moogambikai Nagar is Rs 1,350 per sq.ft, effective from 1 July 2024. This area is located in Moonramkattalai village, under the Kunrathur Sub Registrar Office (SRO). The land classification for this locality is Residential Special Type - I.

How the guideline value of Moogambikai Nagar has changed

The guideline value for Moogambikai Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then decreased to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,350 per sq.ft in 2024, marking a 13% increase from the previous year. The overall change from 2012 to 2024 reflects a 13% increase.

From 2017 to 2023, there was a substantial increase of 49%. However, there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Moonramkattalai

In Moonramkattalai, there are 43 streets under the Kunrathur SRO with a 2024 guideline value range from Rs 650 to Rs 2,750 per sq.ft. The median value for these streets is Rs 650 per sq.ft, indicating that Moogambikai Nagar's 2024 figure is above this median.

• Moondramkattalai Main Road: Rs 1,350 per sq.ft (2024)
• Maruthi Nagar: Rs 650 per sq.ft (2024)
• Mariamman Koil Street: Rs 650 per sq.ft (2024)
• Manickapuram: Rs 650 per sq.ft (2024)
• Ondicherry (Ondi Colony): Rs 1,000 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Moogambikai Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,350 per sq.ft, the guideline value amounts to Rs 13,50,000. The stamp duty at 7% would be Rs 94,500, and the registration fee at 2% would be Rs 27,000, totaling Rs 1,21,500. 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 Moogambikai Nagar?

The Moogambikai Nagar area falls under the jurisdiction of 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 Moonramkattalai

The guideline value plays a crucial role in the registration process when buying or selling property in Moonramkattalai. It is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

When a property is sold, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer.

Frequently asked questions

What is the current guideline value of Moogambikai Nagar?

The current guideline value of Moogambikai Nagar is Rs 1,350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,350 per sq.ft in 2024.

What is the land classification for Moogambikai Nagar?

The land classification for Moogambikai Nagar is Residential Special Type - I.

What are the stamp duty and registration fees for a property in Moogambikai Nagar?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,21,500, based on the current guideline value of Rs 1,350 per sq.ft.

Where is the Kunrathur Sub Registrar Office located?

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