Guideline Value for Moogambikai Street

Moogambikai Street guideline value

The current guideline value of Moogambikai Street is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, with a land classification of Residential Class IV Type - I.

How the guideline value of Moogambikai Street has changed

The guideline value for Moogambikai Street has seen significant changes over the years. In the 2007 revision, the value was Rs 620 per sq.ft. This increased to Rs 2,512 per sq.ft in the 2017 revision, marking a substantial rise of 305%. The value continued to increase to Rs 3,750 per sq.ft in 2023, which represented a 49% increase from the previous revision. The latest revision in 2024 set the guideline value at Rs 4,100 per sq.ft, reflecting a 9% increase from 2023.

There are no figures available for the years 2002, 2003, and 2012 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, placing Moogambikai Street's 2024 figure below this median.

• Moonai Garden Thottam Pillaiyar Koil Street: Rs 4,100 per sq.ft (2024)
• Moovender Street: Rs 3,300 per sq.ft (2024)
• M.P.C. Street (Ma.Po.C) (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Model House: Rs 7,700 per sq.ft (2024)
• M.M. Ramasamy Street: Rs 4,100 per sq.ft (2024)
• Mrs. Indiragandhi Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Moogambikai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value would be Rs 41,00,000. The stamp duty at 7% would amount to Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total fees to Rs 3,69,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Moogambikai Street?

The Sub Registrar Office that covers Moogambikai Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for further assistance.

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

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

When a property is sold, the guideline value ensures that the transaction reflects a fair assessment of the property's worth, thereby facilitating a transparent process. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Moogambikai Street?

The current guideline value of Moogambikai Street is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 620 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, reflecting an overall increase of 561% over the years.

What are the other streets in Kodambakkam with their guideline values?

Other streets in Kodambakkam include Moonai Garden Thottam Pillaiyar Koil Street at Rs 4,100 per sq.ft, Moovender Street at Rs 3,300 per sq.ft, and Model House at Rs 7,700 per sq.ft, among others.

What fees are associated with buying property in Moogambikai Street?

The fees associated with purchasing property include stamp duty at 7% and a registration fee at 2% of the guideline value. For a property valued at Rs 41,00,000, the total fees would amount to Rs 3,69,000.

Which office handles the registration for Moogambikai Street?

The Ashok Nagar Sub Registrar Office handles the registration for Moogambikai Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.