Guideline Value for Mookambigai Nagar

Mookambigai Nagar guideline value

The current guideline value of Mookambigai Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Thirumullaivoyal village under the Ambattur SRO, classified as Residential Class V Type - II.

How the guideline value of Mookambigai Nagar has changed

The guideline value for Mookambigai Nagar has seen several revisions over the years. Starting from Rs 55 per sq.ft in 2002, it increased to Rs 100 per sq.ft in 2003, marking an increase of 82%. The value rose further to Rs 200 per sq.ft in 2007, reflecting a 100% increase. By 2012, the guideline value reached Rs 800 per sq.ft, showing a significant increase of 300% from the previous revision. However, it dropped to Rs 536 per sq.ft in 2017, a decrease of 33%.

As of the latest revision in 2024, the guideline value stands at Rs 880 per sq.ft, which is a notable increase of 64% from the 2017 figure. Overall, from 2002 to 2024, the guideline value has increased by 1500%. It is important to note that the register has no figure for Mookambigai Nagar for the year 2023.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO, with guideline values ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,400 per sq.ft, placing Mookambigai Nagar's 2024 figure below that median.

• Moorthy Nagar 1st Street: Rs 1,100 per sq.ft (2024)
• Moorthy Nagar 2nd Street: Rs 1,100 per sq.ft (2024)
• Moorthy Nagar 3rd Street: Rs 1,100 per sq.ft (2024)
• Moorthy Nagar Main Road: Rs 1,100 per sq.ft (2024)
• Moorthy Street (Ambedkar Nagar): Rs 1,100 per sq.ft (2024)
• M.T.H. Road: Rs 5,500 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 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost of duties to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mookambigai Nagar?

Mookambigai Nagar falls under the Ambattur Sub Registrar Office located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Thirumullaivoyal. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty and registration fees. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Mookambigai Nagar?

The current guideline value of Mookambigai Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 55 per sq.ft to Rs 880 per sq.ft in 2024, marking an overall increase of 1500% over the years.

What are the guideline values of other streets in Thirumullaivoyal?

Other streets in Thirumullaivoyal have varying guideline values, with rates ranging from Rs 880 to Rs 5,500 per sq.ft. The median value is Rs 2,400 per sq.ft.

What is the stamp duty for property in Mookambigai Nagar?

The stamp duty for property in Mookambigai Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office covering Mookambigai Nagar is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.