Guideline Value for Moore street

Moore street guideline value

The current guideline value of Moore street in Muthialpet village is Rs 15,900 per sq.ft, effective from 1 July 2024. This street falls under the Chennai North Joint I SRO and is classified as Commercial Class I Type - II.

How the guideline value of Moore street has changed

The guideline value for Moore street has seen significant changes over the years. In 2002, the guideline value was Rs 3,151 per sq.ft. This increased to Rs 3,581 per sq.ft in 2003, marking a change of +14%. The value then rose to Rs 5,500 per sq.ft in 2007, reflecting a substantial increase of +54%. Following this, the value surged to Rs 14,500 per sq.ft in 2012, which was a remarkable increase of +164%. However, it dropped to Rs 9,715 per sq.ft in 2017, resulting in a decrease of -33%. The value then climbed to Rs 14,500 per sq.ft in 2023, before reaching the current rate of Rs 15,900 per sq.ft in 2024, which is an increase of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +405%. The register has no figures for the years not mentioned, ensuring that all changes are documented accurately.

Guideline values in Muthialpet

In Muthialpet, 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. Moore street's 2024 guideline value is above this median.

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

Stamp duty and registration fee for property in Moore street

For a 1,000 sq.ft plot at the current guideline value of Rs 15,900 per sq.ft, the total guideline value would be Rs 1,59,00,000. The stamp duty at 7% would amount to Rs 11,13,000, and the registration fee at 2% would be Rs 3,18,000. Together, these fees would total Rs 14,31,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Moore street?

The Sub Registrar Office that covers Moore 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 further details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Muthialpet. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction. Buyers should be aware that the guideline value is used to calculate these fees, ensuring compliance with local regulations.

When a property is sold, the guideline value helps establish a fair transaction amount for the property, which is essential for both the buyer and the seller. It ensures that the property is valued appropriately in accordance with the local market standards.

Frequently asked questions

What is the current guideline value of Moore street?

The current guideline value of Moore street is Rs 15,900 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 3,151 per sq.ft in 2002 to Rs 15,900 per sq.ft in 2024, reflecting an overall increase of +405% over this period.

What is the land classification for Moore street?

Moore street is classified as Commercial Class I Type - II under the Chennai North Joint I SRO.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 11,13,000 and the registration fee would be Rs 3,18,000, totaling Rs 14,31,000.

Where is the Sub Registrar Office for Moore street located?

The Sub Registrar Office covering Moore street is located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105.