Guideline Value for Moorthi Nagar

Moorthi Nagar guideline value

The current guideline value of Moorthi Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is located in Adhanoor village under the Gooduvancheri SRO and is classified as Residential Special Type - I.

How the guideline value of Moorthi Nagar has changed

Over the years, the guideline value for Moorthi Nagar has seen several revisions. The 2007 revision set the value at Rs 200 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in the 2012 revision. However, it then decreased to Rs 670 per sq.ft in the 2017 revision, before returning to Rs 1,000 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. The overall change from the 2007 revision to the 2024 revision reflects a substantial increase of 400%. It is important to note that the register has no figures for Moorthi Nagar for the years 2002 and 2003.

Guideline values in Adhanoor

In Adhanoor, there are 169 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 670 to Rs 3,000 per sq.ft, with the median value being Rs 1,000 per sq.ft. Moorthi Nagar's 2024 guideline value aligns perfectly with this median.

• Murugadoss Nagar: Rs 1,000 per sq.ft (2024)
• Murugathal Nagar: Rs 1,000 per sq.ft (2024)
• M.G. Nagar-XVII: Rs 1,000 per sq.ft (2024)
• M.G. Nagar-XVI: Rs 1,000 per sq.ft (2024)
• M.G. Nagar-XV: Rs 1,000 per sq.ft (2024)
• M.G. Nagar-XIV: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Moorthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees to Rs 90,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Moorthi Nagar?

The Sub Registrar Office that covers Moorthi Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Adhanoor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Moorthi Nagar?

The current guideline value of Moorthi Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, from Rs 200 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreasing to Rs 670 per sq.ft in 2017, and returning to Rs 1,000 per sq.ft in both 2023 and 2024.

What is the land classification of Moorthi Nagar?

Moorthi Nagar is classified as Residential Special Type - I, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Moorthi Nagar?

The Sub Registrar Office for Moorthi Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone.

How is stamp duty calculated in Moorthi Nagar?

Stamp duty in Moorthi Nagar is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 10,00,000, the stamp duty at 7% would be Rs 70,000.