Guideline Value for Mookambigai Nagar I & II

Mookambigai Nagar I & II guideline value

The current guideline value for Mookambigai Nagar I & II is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Molachoor village and falls under the Sunguvarchattram SRO with a land classification of Residential Class IV Type - II.

How the guideline value of Mookambigai Nagar I & II has changed

The guideline value for Mookambigai Nagar I & II has seen several revisions over the years. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 201 per sq.ft. Following this, the 2023 revision brought the value back to Rs 300 per sq.ft, and this figure was maintained in the 2024 revision, showing no change from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. However, when looking at the overall change from the 2012 revision to the 2024 revision, the guideline value has remained constant, with an overall change of 0%.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft, with a median value of Rs 600 per sq.ft. The guideline value for Mookambigai Nagar I & II is below this median.

• Mettu Street: Rs 300 per sq.ft (2024)
• Matthamman Kovil Street: Rs 700 per sq.ft (2024)
• Mariya Puram: Rs 600 per sq.ft (2024)
• Mariamman Kovil Street: Rs 300 per sq.ft (2024)
• Nehru Street: Rs 600 per sq.ft (2024)
• Nethaji Street: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Mookambigai Nagar I & II

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. 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 to estimate your costs.

Which Sub Registrar Office covers Mookambigai Nagar I & II?

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

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

The guideline value plays a crucial role in the registration process of property transactions in Molachoor. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence the overall costs involved in the transaction. Buyers should ensure that they are informed about the current guideline values to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Mookambigai Nagar I & II?

The current guideline value of Mookambigai Nagar I & II is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen fluctuations, with the most recent revisions in 2023 and 2024 maintaining the value at Rs 300 per sq.ft. The 2017 revision saw a drop to Rs 201 per sq.ft, while the 2012 revision was Rs 300 per sq.ft.

What is the land classification for Mookambigai Nagar I & II?

The land classification for Mookambigai Nagar I & II is Residential Class IV Type - II.

Where can I find the registration office for Mookambigai Nagar I & II?

The registration office for Mookambigai Nagar I & II is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Mookambigai Nagar I & II?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable, making it essential to consider these costs when buying or selling property.