Guideline Value for MOORTHINGA IYER STREET(MURTHINGA IYER MAIN ROAD TO ERUKKANCHERY)

Moorthinga Iyer Street(Murthinga Iyer Main Road To Erukkanchery) guideline value

The current guideline value of Moorthinga Iyer Street(Murthinga Iyer Main Road To Erukkanchery) is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class I Type - II.

How the guideline value of Moorthinga Iyer Street(Murthinga Iyer Main Road To Erukkanchery) has changed

The guideline value for Moorthinga Iyer Street has seen significant changes over the years. In 2002, the guideline value was Rs 536 per sq.ft, which increased to Rs 588 per sq.ft in 2003. Following this, the value rose to Rs 1,000 per sq.ft in 2007, marking a 70% increase from the previous revision. By 2017, the value had jumped to Rs 3,015 per sq.ft, reflecting a remarkable 202% increase from 2007. The 2023 revision set the guideline value at Rs 4,500 per sq.ft, a 49% increase from 2017. The current 2024 revision has further raised it to Rs 4,900 per sq.ft, which is a 9% increase from the previous year. Notably, there is no figure available for the year 2012 in the register for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO with a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Moorthinga Iyer Street's 2024 figure above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees together to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Moorthinga Iyer Street(Murthinga Iyer Main Road To Erukkanchery)?

The Sub Registrar Office that covers Moorthinga Iyer Street 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 property transactions in Perambur, as it determines the minimum value at which properties must be registered. When buying or selling property, the guideline value serves as a benchmark for calculating stamp duty and registration fees.

During the registration process, the buyer is required to pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions, reflecting the property's value as per the established guidelines.

Frequently asked questions

What is the current guideline value of Moorthinga Iyer Street?

The current guideline value of Moorthinga Iyer Street(Murthinga Iyer Main Road To Erukkanchery) is Rs 4,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 536 per sq.ft to Rs 4,900 per sq.ft in 2024, marking an overall increase of 814% over the years.

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

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000. The duty is charged on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers Moorthinga Iyer Street?

The Purasaivakkam Sub Registrar Office covers Moorthinga Iyer Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the median guideline value for streets in Perambur?

The median guideline value for streets in Perambur under the Purasaivakkam SRO is Rs 2,700 per sq.ft, with Moorthinga Iyer Street's 2024 value being above this median.