Guideline Value for Sri Moogambigai Nagar

Sri Moogambigai Nagar guideline value

The current guideline value of Sri Moogambigai Nagar is Rs 3,520 per sq.ft, effective from 1 July 2024. This area is located in Madanandapuram village under the Kunrathur SRO, classified as Residential Special 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. Starting from Rs 400 per sq.ft in 2007, it increased significantly to Rs 3,200 per sq.ft in 2012, marking a rise of 700%. However, it then decreased to Rs 2,144 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 3,200 per sq.ft in 2023, and currently stands at Rs 3,520 per sq.ft following a 10% increase in the 2024 revision.

From 2017 to 2023, the value increased by 49%, reflecting a notable change. Overall, from the 2007 revision to the current 2024 figure, there has been a substantial increase of 780%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Madanandapuram

Madanandapuram has a range of guideline values across its 94 streets under the Kunrathur SRO, with figures varying from Rs 2,530 to Rs 5,830 per sq.ft. The median value is Rs 3,520 per sq.ft, which is equal to the current guideline value of Sri Moogambigai Nagar.

• Sri Muthu mariyamman Nagar: Rs 3,520 per sq.ft (2024)
• Sri Muthu Nagar: Rs 3,520 per sq.ft (2024)
• Sri Natarajan Nagar: Rs 3,520 per sq.ft (2024)
• Sri Rajarajeswari Nagar: Rs 3,190 per sq.ft (2024)
• Sri Annai Avenue: Rs 3,520 per sq.ft (2024)
• Sri Amman Nagar: Rs 3,520 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 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total to Rs 3,16,800. Please note that 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 Sri Moogambigai Nagar?

The Sub Registrar Office covering Sri Moogambigai Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Madanandapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Sri Moogambigai Nagar?

The current guideline value of Sri Moogambigai Nagar is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 3,520 per sq.ft in 2024, with significant increases and decreases across various revisions.

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

For a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400 and the registration fee would be Rs 70,400, totaling Rs 3,16,800.

Which office handles property registrations in Sri Moogambigai Nagar?

The Kunrathur Sub Registrar Office handles property registrations in Sri Moogambigai Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Sri Moogambigai Nagar?

Sri Moogambigai Nagar is classified as Residential Special Type - II under the guideline value register.