Guideline Value for Moolachatram Main Road

Moolachatram Main Road guideline value

The current guideline value of Moolachatram Main Road is Rs 1,600 per sq.ft, effective from 1 July 2024. This road is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Moolachatram Main Road has changed

The guideline value for Moolachatram Main Road has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft. This increased to Rs 1,500 per sq.ft in the 2023 revision, marking a 25% rise. The most recent revision in 2024 has further increased the guideline value to Rs 1,600 per sq.ft, which is a 7% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 33%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which matches the current value for Moolachatram Main Road.

• Moolachathiram Main Road (Ward-02): Rs 1,600 per sq.ft (2024)
• Moolachatram Perumal Koil Street: Rs 1,900 per sq.ft (2024)
• Moolachatharam Road (Ward-4): Rs 1,600 per sq.ft (2024)
• Moolachatharam Pachaiappan Naicker Thottam: Rs 1,600 per sq.ft (2024)
• Moolakkadai Bazaar Thottam: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Moolachatram Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Moolachatram Main Road?

The Moolachatram Main Road is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Madhavaram. It serves as a basis for calculating the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When a property is sold, the guideline value helps ensure that the transaction is registered at a fair value, preventing undervaluation. It is crucial for both buyers and sellers to be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Moolachatram Main Road?

The current guideline value of Moolachatram Main Road is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 1,500 per sq.ft in 2023, and then to Rs 1,600 per sq.ft in 2024. This represents a 33% increase from 2012 to 2024.

What are the other guideline values in Madhavaram?

In Madhavaram, the guideline values for other streets range from Rs 1,300 to Rs 7,500 per sq.ft. The median value for the area is Rs 1,600 per sq.ft, which is the same as that of Moolachatram Main Road.

What fees are associated with buying property on Moolachatram Main Road?

When purchasing property on Moolachatram Main Road, buyers must pay stamp duty at 7% and a registration fee at 2% of the guideline value. For a property valued at Rs 16,00,000, the total fees would amount to Rs 1,44,000.

Where is the Sub Registrar Office for Moolachatram Main Road?

The Sub Registrar Office covering Moolachatram Main Road is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles all registrations for properties in the area.