Guideline Value for MOORTHY NAGAR

Moorthy Nagar guideline value

The current guideline value of Moorthy Nagar, located in Anakaputhur village under the Pammal SRO, is Rs 2,860 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - I.

How the guideline value of Moorthy Nagar has changed

The guideline value of Moorthy Nagar has undergone several revisions over the years. The 2017 revision recorded a value of Rs 1,742 per sq.ft, which increased to Rs 2,600 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 has set the guideline value at Rs 2,860 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 4,640 per sq.ft, with a median value of Rs 1,980 per sq.ft. Moorthy Nagar's 2024 guideline value of Rs 2,860 per sq.ft is above this median.

• Moogambikai Nagar 3rd Street: Rs 1,760 per sq.ft (2024)
• Muduvu Street: Rs 1,320 per sq.ft (2024)
• Mugambigai Nagar 1st Street: Rs 1,760 per sq.ft (2024)
• Mugambigai Nagar 2nd Cross Street: Rs 1,760 per sq.ft (2024)
• Mugambigai Nagar 2nd Street: Rs 1,760 per sq.ft (2024)
• Mugambigai Nagar Dobigana Street: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Moorthy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,860 per sq.ft, the total guideline value amounts to Rs 28,60,000. The stamp duty at 7% would be Rs 2,00,200, and the registration fee at 2% would be Rs 57,200, totaling Rs 2,57,400. 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 Moorthy Nagar?

The Sub Registrar Office that covers Moorthy Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during property registration in Anakaputhur. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory when a property is bought or sold.

When a buyer or seller approaches the registration office, the guideline value is assessed to determine the applicable taxes. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Moorthy Nagar?

The current guideline value of Moorthy Nagar is Rs 2,860 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 64%, from Rs 1,742 per sq.ft to Rs 2,860 per sq.ft in 2024.

What is the land classification of Moorthy Nagar?

Moorthy Nagar is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

What are the stamp duty and registration fees for properties in Moorthy Nagar?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For instance, a 1,000 sq.ft property would incur a total fee of Rs 2,57,400 based on the current guideline value.

Where is the Sub Registrar Office for Moorthy Nagar located?

The Sub Registrar Office for Moorthy Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.