Guideline Value for Mugambigai Nagar 2nd Cross Street

Mugambigai Nagar 2nd Cross Street guideline value

The current guideline value of Mugambigai Nagar 2nd Cross Street is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Anakaputhur village, under the Pammal SRO, and is classified as Residential Class II Type - I.

How the guideline value of Mugambigai Nagar 2nd Cross Street has changed

The guideline value for Mugambigai Nagar 2nd Cross Street has undergone 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 the 2023 revision. The most recent 2024 revision has 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 revisions in 2002, 2003, 2007, and 2012 for this street. The significant increase from Rs 1,072 in 2017 to Rs 1,760 in 2024 indicates a substantial rise in the guideline value over this period.

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 value for these streets is Rs 1,980 per sq.ft, and the guideline value for Mugambigai Nagar 2nd Cross Street is below this median.

• Mugambigai Nagar 1st Street: Rs 1,760 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)
• Muduvu Street: Rs 1,320 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 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to 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, bringing the total to Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mugambigai Nagar 2nd Cross Street?

The Mugambigai Nagar 2nd Cross Street falls under the jurisdiction of 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 more details.

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

When buying or selling property in Anakaputhur, the guideline value is used as a benchmark for determining the stamp duty and registration fees. This value is essential for ensuring that the transaction is recorded accurately and complies with local regulations.

At the time of registration, the guideline value helps in calculating the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Mugambigai Nagar 2nd Cross Street?

The current guideline value of Mugambigai Nagar 2nd Cross 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 changed from Rs 1,072 per sq.ft in 2017 to Rs 1,760 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the stamp duty rates for properties in Mugambigai Nagar 2nd Cross Street?

The stamp duty for properties in Mugambigai Nagar 2nd Cross Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Mugambigai Nagar 2nd Cross Street?

The Pammal Sub Registrar Office handles property registrations for Mugambigai Nagar 2nd Cross Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it is used to calculate the stamp duty and registration fees during property transactions. It serves as a benchmark for property valuation in the area.