Guideline Value for Moores Lane (Slum)

Moores Lane (Slum) guideline value

The current guideline value of Moores Lane (Slum) is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village, under the Chennai Central Joint II SRO, with a land classification of Residential Class IV Type - II.

How the guideline value of Moores Lane (Slum) has changed

The guideline value of Moores Lane (Slum) has seen several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 178%. However, the value decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. The 2023 revision set the value at Rs 5,000 per sq.ft, and the latest revision in 2024 raised it to Rs 5,500 per sq.ft, reflecting a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 206%.

Guideline values in Nungambakkam

Nungambakkam village has a total of 270 streets under the Chennai Central Joint II SRO, with guideline values ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, and Moores Lane (Slum) has a 2024 figure that is below this median.

• Moores Road: Rs 9,900 per sq.ft (2024)
• Mosque Street: Rs 7,100 per sq.ft (2024)
• Mohan Kumaramangalam Road: Rs 12,600 per sq.ft (2024)
• Model School Road: Rs 11,500 per sq.ft (2024)
• Murali Street: Rs 7,700 per sq.ft (2024)
• Melpady Muthunaicken Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Moores Lane (Slum)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Moores Lane (Slum)?

The Sub Registrar Office covering Moores Lane (Slum) is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Nungambakkam. It is used to determine the stamp duty and registration fees that buyers must pay when registering a property. This value is set by the Registration Department and is regularly revised to reflect changes in the real estate market.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers should be aware of the current guideline value to calculate the total costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Moores Lane (Slum)?

The current guideline value of Moores Lane (Slum) is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 206% over the years.

What is the registration office for Moores Lane (Slum)?

The registration office for Moores Lane (Slum) is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What are the stamp duty rates for properties in Moores Lane (Slum)?

The stamp duty for properties in Moores Lane (Slum) is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

What is the median guideline value in Nungambakkam?

The median guideline value in Nungambakkam is Rs 8,800 per sq.ft, with Moores Lane (Slum) having a 2024 figure below this median.