Guideline Value for Moongilan Street

Moongilan Street guideline value

The current guideline value of Moongilan Street is Rs 605 per sq.ft, effective from 1 July 2024. This street is located in Theerthangiriyampattu village, under the jurisdiction of the Redhills SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Moongilan Street has changed

The guideline value for Moongilan Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 342 per sq.ft. This figure saw a significant increase to Rs 36 per sq.ft in 2003, followed by a remarkable jump to Rs 400 per sq.ft in 2007. The 2012 revision brought the value to Rs 550 per sq.ft, which then decreased to Rs 368 per sq.ft in 2017. The value rose again to Rs 550 per sq.ft in 2023, and finally, it reached Rs 605 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 77%. Notably, there are no figures available for revisions in years other than those mentioned above.

Guideline values in Theerthangiriyampattu

Theerthangiriyampattu village has 24 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 880 per sq.ft. The median value for these streets is Rs 605 per sq.ft, which is equal to the guideline value of Moongilan Street.

• Mettu Street: Rs 605 per sq.ft (2024)
• New Star City: Rs 585 per sq.ft (2024)
• New Star Garden: Rs 605 per sq.ft (2024)
• Paramanandam Nagar: Rs 330 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 770 per sq.ft (2024)
• Karunanidhi Street: Rs 605 per sq.ft (2024)

Stamp duty and registration fee for property in Moongilan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 605 per sq.ft, the total guideline value amounts to Rs 6,05,000. The stamp duty at 7% would be Rs 42,350, and the registration fee at 2% would be Rs 12,100. Together, these fees would total Rs 54,450. It is important to note that 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 Moongilan Street?

The Sub Registrar Office that covers Moongilan Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Theerthangiriyampattu. It serves as a benchmark for determining the minimum value of the property, ensuring that the transaction is conducted at a fair price as per the local regulations.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Moongilan Street?

The current guideline value of Moongilan Street is Rs 605 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 342 per sq.ft in 2002 to Rs 605 per sq.ft in 2024, reflecting an overall increase of 77% over this period.

What are the stamp duty and registration fees for properties in Moongilan Street?

For a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 6,05,000. The stamp duty would be Rs 42,350, and the registration fee would be Rs 12,100, totaling Rs 54,450.

Which Sub Registrar Office covers Moongilan Street?

The Redhills Sub Registrar Office covers Moongilan Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Moongilan Street?

The land classification for Moongilan Street is Residential Special Type - I, indicating its designated use for residential purposes.