Guideline Value for Mugambigai Nagar 1st Street

Mugambigai Nagar 1st Street guideline value

The current guideline value of Mugambigai Nagar 1st Street is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Anakaputhur village under the Pammal SRO, classified as Residential Class II Type - I.

How the guideline value of Mugambigai Nagar 1st Street has changed

The guideline value for Mugambigai Nagar 1st Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,072 per sq.ft, which increased to Rs 1,600 per sq.ft in 2023. The most recent revision in 2024 raised the value to Rs 1,760 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 4,640 per sq.ft. The median guideline value in this area is Rs 1,980 per sq.ft, making the 2024 figure for Mugambigai Nagar 1st Street below this median.

• Mugambigai Nagar 2nd Cross Street: Rs 1,760 per sq.ft (2024)
• Muduvu Street: Rs 1,320 per sq.ft (2024)
• Mugambigai Nagar 2nd Street: Rs 1,760 per sq.ft (2024)
• Mugambigai Nagar Dobigana Street: Rs 1,760 per sq.ft (2024)
• Mungil Lake (5th Street): Rs 1,760 per sq.ft (2024)
• Moorthy Nagar: Rs 2,860 per sq.ft (2024)

Stamp duty and registration fee for property in Mugambigai Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value is Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, making the total cost for these fees Rs 1,58,400. Note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mugambigai Nagar 1st Street?

The Sub Registrar Office that covers Mugambigai Nagar 1st Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is an essential factor when registering property transactions in Anakaputhur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is used to calculate the fees, ensuring that the transaction is documented accurately according to the prevailing rates set by the Registration Department.

Frequently asked questions

What is the current guideline value for Mugambigai Nagar 1st Street?

The current guideline value for Mugambigai Nagar 1st Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,072 per sq.ft in 2017 to Rs 1,760 per sq.ft in 2024, marking an overall increase of 64% during this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 17,60,000, the stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, totaling Rs 1,58,400.

Which office handles property registrations for Mugambigai Nagar 1st Street?

The Pammal Sub Registrar Office handles property registrations for Mugambigai Nagar 1st Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Mugambigai Nagar 1st Street?

Mugambigai Nagar 1st Street is classified as Residential Class II Type - I according to the current guidelines.