Guideline Value for Moores Road

Moores Road guideline value

The current guideline value for Moores Road in Nungambakkam village is Rs 9,900 per sq.ft, effective from 1 July 2024. This street falls under the Chennai Central Joint II SRO and is classified as Commercial Class I Type - II.

How the guideline value of Moores Road has changed

The guideline value for Moores Road has undergone several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 4,000 per sq.ft. This increased significantly to Rs 9,000 per sq.ft in 2012, followed by a decrease to Rs 6,030 per sq.ft in 2017. In 2023, the value rose to Rs 9,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 9,900 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. The jump from 2007 to 2012 was a remarkable 125%, while the drop from 2012 to 2017 was 33%. Overall, from 2007 to 2024, the guideline value has increased by 148%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Moores Road's 2024 figure above that median.

• Moores Lane (Slum): Rs 5,500 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 Road

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value would be Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, resulting in a total of Rs 8,91,000. It is important to note that 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 Moores Road?

The Sub Registrar Office that covers Moores Road 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 is a crucial factor in the registration process of property transactions in Nungambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in question. It is essential for buyers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Moores Road?

The current guideline value of Moores Road is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2007 to Rs 9,900 per sq.ft in 2024, reflecting an overall increase of 148% over the years.

What is the land classification of Moores Road?

Moores Road is classified as Commercial Class I Type - II under the Chennai Central Joint II SRO.

What are the stamp duty and registration fees for property in Moores Road?

For a property valued at Rs 99,00,000, the stamp duty would be Rs 6,93,000 and the registration fee would be Rs 1,98,000, totaling Rs 8,91,000.

Which office handles property registrations for Moores Road?

The Chennai Central Joint II Sub Registrar Office handles property registrations for Moores Road, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.