Guideline Value for SRI MOOGAMBIGAI NAGAR

Sri Moogambigai Nagar guideline value

The current guideline value for Sri Moogambigai Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This locality is situated in Perumbakkam village, under the Selaiyur Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - II.

How the guideline value of Sri Moogambigai Nagar has changed

The guideline value for Sri Moogambigai Nagar has seen several revisions over the years. In 2012, the guideline value was set at Rs 1,500 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and further rose to the current value of Rs 1,600 per sq.ft in 2024. The revisions for the years 2002, 2003, and 2007 have no figures available for this street.

Between the 2017 and 2023 revisions, there was a substantial increase of 49%. However, from 2012 to 2017, the value had decreased by 33%. Overall, when considering the period from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft, with a median value of Rs 2,725 per sq.ft. The guideline value for Sri Moogambigai Nagar is below this median.

• Sri Nargunam Avenue: Rs 850 per sq.ft (2024)
• Srinivasa Palms @ Perumbakkam: Rs 3,200 per sq.ft (2024)
• Sri Krishna Nagar 1st -5th Street (Vijayam Nagar Extension): Rs 3,300 per sq.ft (2024)
• Sri Perumal Nagar: Rs 2,725 per sq.ft (2024)
• Sri Ganapathi Nagar Colony: Rs 1,200 per sq.ft (2024)
• Sri Sai Garden: Rs 3,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Moogambigai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total cost to Rs 1,44,000. It is important to 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 Sri Moogambigai Nagar?

The Sub Registrar Office that covers Sri Moogambigai Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Perumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the guideline value aids in calculating the stamp duty and registration fees, which are essential components of the transaction. Buyers and sellers should be aware of these values to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Sri Moogambigai Nagar?

The current guideline value of Sri Moogambigai Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,600 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Sri Moogambigai Nagar?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which Sub Registrar Office covers Sri Moogambigai Nagar?

Sri Moogambigai Nagar falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Sri Moogambigai Nagar?

The land classification for Sri Moogambigai Nagar is Residential Class II Type - II.