Guideline Value for Moore street 2nd lane

Moore street 2nd lane guideline value

The current guideline value of Moore street 2nd lane is Rs 7,700 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 Residential Class I Type - I.

How the guideline value of Moore street 2nd lane has changed

The guideline value for Moore street 2nd lane has undergone several revisions over the years. In 2002, the guideline value was Rs 1,232 per sq.ft, which increased to Rs 1,401 per sq.ft in 2003, marking a 14% rise. The value saw a significant increase to Rs 2,000 per sq.ft in 2007, reflecting a 43% growth. By 2012, the value was Rs 7,000 per sq.ft, showing a substantial 250% increase from the previous revision. However, it decreased to Rs 4,690 per sq.ft in 2017, indicating a 33% decline. The value then increased to Rs 7,000 per sq.ft in 2023, followed by a further increase to Rs 7,700 per sq.ft in 2024, which is a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 525%. The register has no figures for the years between these revisions.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO, with guideline values ranging from Rs 3,800 to Rs 18,000 per sq.ft as of 2024. The median value for these streets is Rs 5,500 per sq.ft, and the guideline value for Moore street 2nd lane is above this median.

• Moore street: Rs 15,900 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)
• Mooker Nallamuthu street: Rs 18,000 per sq.ft (2024)

Stamp duty and registration fee for property in Moore street 2nd lane

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value is Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, totaling Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Moore street 2nd lane?

The Sub Registrar Office that covers Moore street 2nd lane is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Muthialpet. It determines the stamp duty and registration fees that must be paid when a property is bought or sold. The guideline value reflects the government's assessment of property values in the area and is used to ensure that the correct amount of tax is collected during the registration process.

When registering a property, buyers should be aware that the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and that all applicable taxes are paid according to the established guidelines.

Frequently asked questions

What is the current guideline value of Moore street 2nd lane?

The current guideline value of Moore street 2nd lane is Rs 7,700 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 1,232 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 525% over this period.

What is the land classification for Moore street 2nd lane?

The land classification for Moore street 2nd lane is Residential Class I Type - I, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Moore street 2nd lane?

The Sub Registrar Office for Moore street 2nd lane is located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.

How is stamp duty calculated for properties in Muthialpet?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. This ensures that the correct amount of tax is collected during the registration process.