Guideline Value for Moore street Ist lane

Moore street Ist lane guideline value

The current guideline value for Moore street Ist 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, classified as Residential Class I Type - I.

How the guideline value of Moore street Ist lane has changed

The guideline value for Moore street Ist lane has seen several revisions over the years. The 2007 revision set the value at Rs 2,000 per sq.ft, which increased significantly to Rs 7,000 per sq.ft in the 2012 revision. However, this figure dropped to Rs 4,690 per sq.ft in the 2017 revision. The subsequent revisions saw an increase, with the 2023 revision at Rs 7,000 per sq.ft, and the latest 2024 revision at Rs 7,700 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 285%. The register does not provide figures for the years 2002 and 2003 for this street.

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. The median guideline value for these streets is Rs 5,500 per sq.ft, placing Moore street Ist lane above this median value.

• Moore street 2nd lane: Rs 7,700 per sq.ft (2024)
• Moorthigal lane: Rs 11,000 per sq.ft (2024)
• Moore street: Rs 15,900 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 Ist lane

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to 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, bringing the total cost for these fees to 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 also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Moore street Ist lane?

The Sub Registrar Office that covers Moore street Ist lane 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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Muthialpet. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property in the area.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable fees. Buyers should be aware that the fees are based on either the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value for Moore street Ist lane?

The current guideline value for Moore street Ist 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 from Rs 2,000 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 285% over the years.

What are the stamp duty and registration fees for a property in Moore street Ist lane?

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Which office handles registrations for Moore street Ist lane?

The Chennai North Joint I Sub Registrar Office handles registrations for Moore street Ist lane, located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105.

What is the land classification for Moore street Ist lane?

Moore street Ist lane is classified as Residential Class I Type - I, indicating its designation for residential use.