Guideline Value for Mookambigai Nagar

Mookambigai Nagar guideline value

The current guideline value of Mookambigai Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Nemili village under the Sriperumpudur SRO and is classified as Residential Class II Type - I.

How the guideline value of Mookambigai Nagar has changed

Over the years, the guideline value of Mookambigai Nagar has seen several revisions. The 2007 revision set the value at Rs 100 per sq.ft, which increased significantly to Rs 250 per sq.ft in the 2012 revision. However, in the 2017 revision, the value decreased to Rs 167 per sq.ft. Following this, the 2023 revision maintained the value at Rs 250 per sq.ft, and the current 2024 revision continues this figure, showing no change from the previous year.

In summary, from 2007 to 2024, the overall change in the guideline value is an increase of 150%. The revisions for the years 2002 and 2003 do not have figures recorded for this street.

Guideline values in Nemili

In Nemili, there are 66 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 150 to Rs 1,000 per sq.ft. The median value is Rs 250 per sq.ft, which aligns with the guideline value of Mookambigai Nagar.

• Murugan Koil Street: Rs 210 per sq.ft (2024)
• Mettu Street: Rs 210 per sq.ft (2024)
• Nadu Street: Rs 210 per sq.ft (2024)
• Marthamman Koil Street: Rs 210 per sq.ft (2024)
• Marshal Share: Rs 300 per sq.ft (2024)
• Nehru Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Mookambigai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, making the total cost for these fees Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mookambigai Nagar?

The Sub Registrar Office that covers Mookambigai Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Nemili. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Mookambigai Nagar?

The current guideline value of Mookambigai Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent revision in 2024 maintaining the value at Rs 250 per sq.ft. The value was Rs 167 per sq.ft in 2017 and Rs 250 per sq.ft in both 2012 and 2023, with a significant rise from Rs 100 per sq.ft in 2007.

What is the land classification of Mookambigai Nagar?

Mookambigai Nagar is classified as Residential Class II Type - I, which indicates its zoning for residential purposes.

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

For a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500 and the registration fee would be Rs 5,000, totaling Rs 22,500. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Mookambigai Nagar?

The Sriperumpudur Sub Registrar Office handles registrations for Mookambigai Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.