Guideline Value for MOORTHINGA IYER STREET LANE

Moorthinga Iyer Street Lane guideline value

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

How the guideline value of Moorthinga Iyer Street Lane has changed

The guideline value for Moorthinga Iyer Street Lane has seen several revisions over the years. The earliest available figure is from 2007, where the value was Rs 600 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 567%. However, between 2012 and 2017, the value dropped to Rs 2,680 per sq.ft, reflecting a decrease of 33%. The value then surged to Rs 4,000 per sq.ft in 2023, and in the latest revision for 2024, it stands at Rs 4,300 per sq.ft, an increase of 8% from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 617%.

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 value of Rs 2,700 per sq.ft. Moorthinga Iyer Street Lane's 2024 figure of Rs 4,300 per sq.ft is above this median.

• Moorthinga Iyer Hut Area: Rs 4,300 per sq.ft (2024)
• Moorthinga Iyer Street (Murthinga Iyer Main Road To Erukkanchery): Rs 4,900 per sq.ft (2024)
• Moorthinga Iyer 2nd Street: Rs 4,300 per sq.ft (2024)
• Moorthinga Iyer 1st Street: Rs 4,300 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 Street Lane

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 amount to 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.

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

Which Sub Registrar Office covers Moorthinga Iyer Street Lane?

The Sub Registrar Office that covers Moorthinga Iyer Street Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official values set by the Registration Department.

When a property is registered, 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 registration reflects the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Moorthinga Iyer Street Lane?

The current guideline value of Moorthinga Iyer Street Lane 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 600 per sq.ft in 2007 to Rs 4,300 per sq.ft in 2024, marking an overall increase of 617% over this period.

What is the land classification for Moorthinga Iyer Street Lane?

Moorthinga Iyer Street Lane is classified as Residential Class II Type - I.

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

For a property valued at Rs 43,00,000, the stamp duty would be Rs 3,01,000 and the registration fee would be Rs 86,000, totaling Rs 3,87,000.

Which office handles property registrations for Moorthinga Iyer Street Lane?

The Purasaivakkam Sub Registrar Office handles property registrations for Moorthinga Iyer Street Lane, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.