Guideline Value for MOORTHINGA IYER HUT AREA

Moorthinga Iyer Hut Area guideline value

The current guideline value of Moorthinga Iyer Hut Area is Rs 4,300 per sq.ft, effective from 1 July 2024. This area is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class II Type - I.

How the guideline value of Moorthinga Iyer Hut Area has changed

The guideline value for Moorthinga Iyer Hut Area has seen several revisions over the years. In 2003, the value was Rs 461 per sq.ft, which increased to Rs 600 per sq.ft in 2007. The value then rose significantly to Rs 4,000 per sq.ft in 2012, but decreased to Rs 2,680 per sq.ft in 2017. Following this, the value increased to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,300 per sq.ft as of the 2024 revision. The register has no figure for this street in 2002.

From 2017 to 2023, the guideline value increased by 49%. There was a notable decline of 33% from 2012 to 2017. The value saw a remarkable increase of 567% from 2007 to 2012 and a 30% rise from 2003 to 2007. Overall, from 2003 to 2024, the guideline value has increased by 833%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median of Rs 2,700 per sq.ft. Moorthinga Iyer Hut Area's 2024 guideline value is above this median.

• Moorthinga Iyer 2nd Street: Rs 4,300 per sq.ft (2024)
• Moorthinga Iyer Street Lane: Rs 4,300 per sq.ft (2024)
• Moorthinga Iyer 1st Street: Rs 4,300 per sq.ft (2024)
• Moorthinga Iyer Street (Murthinga Iyer Main Road To Erukkanchery): Rs 4,900 per sq.ft (2024)
• Mohammed Ismail Street: Rs 2,700 per sq.ft (2024)
• Moahana Mudali Street: Rs 3,200 per sq.ft (2024)

Stamp duty and registration fee for property in Moorthinga Iyer Hut Area

For a 1,000 sq.ft plot at the current guideline value of Rs 4,300 per sq.ft, the total guideline value would be Rs 43,00,000. The stamp duty at 7% would be Rs 3,01,000, and the registration fee at 2% would be Rs 86,000, bringing the total to Rs 3,87,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Moorthinga Iyer Hut Area?

The Moorthinga Iyer Hut Area falls under the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

When buying or selling property in Perambur, the guideline value is a crucial factor in determining the registration fees and stamp duty. The guideline value serves as a benchmark for property transactions, ensuring that the taxes are calculated based on a standardized value set by the authorities.

It is essential for buyers and sellers to be aware of the current guideline value as it impacts the overall cost of the transaction. The guideline value is used to calculate the stamp duty and registration fees, which are mandatory for property registration.

Frequently asked questions

What is the current guideline value of Moorthinga Iyer Hut Area?

The current guideline value of Moorthinga Iyer Hut Area is Rs 4,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 461 per sq.ft in 2003 to Rs 4,300 per sq.ft in 2024, reflecting an overall increase of 833% over the years.

What is the land classification for Moorthinga Iyer Hut Area?

Moorthinga Iyer Hut Area is classified as Residential Class II Type - I.

Where can I find the Purasaivakkam Sub Registrar Office?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 43,00,000, the stamp duty would be Rs 3,01,000 at a rate of 7%.