Guideline Value

Corporate

Guideline Value for Sri Moogambigai Nagar

₹440/sq.ft.

The guideline value for Sri Moogambigai Nagar in Sothupakkam village (Redhills SRO, Chennai zone) is Rs 440 per sq.ft, effective 1 July 2024. It was Rs 400 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Sothupakkam

Village

Redhills

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹440 /sq.ft.
From 1-4-2023 ₹400 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹268 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹400 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹200 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹13 /sq.ft.
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.
044-29570109
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Sri Moogambigai Nagar

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Sri Moogambigai Nagar guideline value

The current guideline value of Sri Moogambigai Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Sothupakkam village and falls under the Redhills SRO. The land classification for this street is Residential Class II Type - I.

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 2003, the guideline value was Rs 13 per sq.ft, which increased significantly to Rs 200 per sq.ft in 2007, marking a change of +1438%. The value then rose to Rs 400 per sq.ft in 2012, reflecting a +100% increase. However, it dropped to Rs 268 per sq.ft in 2017, showing a decrease of -33%. By 2023, the value increased to Rs 400 per sq.ft, a rise of +49%, and finally, the current value is Rs 440 per sq.ft as of the 2024 revision, which is a +10% increase from the previous year.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by +3285%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Sothupakkam

In Sothupakkam, there are 49 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 1,150 per sq.ft. The median guideline value is Rs 440 per sq.ft, which is the same as the current value for Sri Moogambigai Nagar.

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 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total cost for these fees to Rs 39,600. It is important to note that the 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 Sri Moogambigai Nagar?

The Sub Registrar Office that covers Sri Moogambigai Nagar 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 Sothupakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Sothupakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price of the property.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, which is essential for maintaining transparency in real estate transactions. It is advisable for both buyers and sellers to familiarize themselves with the current guideline values to avoid any discrepancies 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 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 13 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, showing a substantial increase of +3285% over this period.

What is the land classification for Sri Moogambigai Nagar?

Sri Moogambigai Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 and the registration fee would be Rs 8,800, totaling Rs 39,600.

Which office handles property registration for Sri Moogambigai Nagar?

The Redhills Sub Registrar Office is responsible for handling property registrations for Sri Moogambigai Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.