Guideline Value for Mooker Nallamuthu street

Mooker Nallamuthu street guideline value

The current guideline value of Mooker Nallamuthu street is Rs 18,000 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village and falls under the Chennai North Joint I SRO. The land classification for this area is Commercial Special Type - I.

How the guideline value of Mooker Nallamuthu street has changed

The guideline value for Mooker Nallamuthu street has seen significant changes over the years. In the 2007 revision, the value was Rs 7,400 per sq.ft, which increased to Rs 16,500 per sq.ft in the 2012 revision. However, there was a decrease to Rs 11,055 per sq.ft in the 2017 revision. The value then rose sharply to Rs 16,500 per sq.ft in the 2023 revision, and as of the 2024 revision, it stands at Rs 18,000 per sq.ft, marking a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 143%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Muthialpet

In Muthialpet village, there are 160 streets under the Chennai North Joint I SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft, with a median value of Rs 5,500 per sq.ft. Mooker Nallamuthu street's 2024 figure is above this median.

• Moore street: Rs 15,900 per sq.ft (2024)
• Moore street 2nd lane: Rs 7,700 per sq.ft (2024)
• Moore street Ist lane: Rs 7,700 per sq.ft (2024)
• Moorthigal lane: Rs 11,000 per sq.ft (2024)
• Moorthy lingam lane+: Rs 3,800 per sq.ft (2024)
• Moottaikaran street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Mooker Nallamuthu street

For a 1,000 sq.ft plot at the current guideline value of Rs 18,000 per sq.ft, the total guideline value would be Rs 1,80,00,000. The stamp duty at 7% would amount to Rs 12,60,000, while the registration fee at 2% would be Rs 3,60,000. Together, the total cost for these fees would be Rs 16,20,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Mooker Nallamuthu street?

The Sub Registrar Office that covers Mooker Nallamuthu street is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Muthialpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is officially recognized by the authorities.

When a property is sold, the guideline value is used to assess the taxes owed, which can impact both the buyer and seller. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Mooker Nallamuthu street?

The current guideline value of Mooker Nallamuthu street is Rs 18,000 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 7,400 per sq.ft in 2007 to Rs 18,000 per sq.ft in 2024, reflecting an overall increase of 143% over this period.

What is the median guideline value in Muthialpet?

The median guideline value in Muthialpet is Rs 5,500 per sq.ft, with Mooker Nallamuthu street's 2024 figure being above this median.

What are the stamp duty and registration fees for properties in Mooker Nallamuthu street?

For a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 1,80,00,000, with stamp duty at 7% amounting to Rs 12,60,000 and a registration fee at 2% of Rs 3,60,000, totaling Rs 16,20,000.

Which office handles the registration for Mooker Nallamuthu street?

The registration for Mooker Nallamuthu street is handled by the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105.