Guideline Value for Moorthi Nagar

Moorthi Nagar guideline value

The current guideline value of Moorthi Nagar, located in Palnalloor village under the Sunguvarchattram SRO, is Rs 200 per sq.ft as per the 2024 revision effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Moorthi Nagar has changed

The guideline value for Moorthi Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 200 per sq.ft. The 2017 revision marked a significant change, lowering the value to Rs 134 per sq.ft, which was a decrease of 33% from the previous 2012 figure. Following this, the value increased by 49% in 2023, bringing it back to Rs 200 per sq.ft.

Looking at the most recent revisions, there were no figures available for the years 2002, 2003, and 2007 for this street. The overall change from the 2012 revision to the 2024 revision is 0%, indicating stability in the guideline value over this period.

Guideline values in Palnalloor

In Palnalloor, there are 34 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 175 to Rs 471 per sq.ft. The median value is Rs 200 per sq.ft, which is equal to the guideline value of Moorthi Nagar.

• Mettu Street: Rs 175 per sq.ft (2024)
• Mathakovil Street: Rs 175 per sq.ft (2024)
• Maruthi Nagar: Rs 200 per sq.ft (2024)
• New Tank Street: Rs 175 per sq.ft (2024)
• Old Tank Street: Rs 175 per sq.ft (2024)
• MahaGanapathy Street: Rs 250 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 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty is charged at 7%, which totals Rs 14,000, and the registration fee is charged at 2%, amounting to Rs 4,000. Therefore, the total cost for stamp duty and registration fees would be Rs 18,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, 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 Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Palnalloor. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is assessed to ensure that the appropriate taxes are collected. This value is essential for both buyers and sellers to understand as it impacts the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Moorthi Nagar?

The current guideline value of Moorthi Nagar is Rs 200 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft from 2012 to 2024, with a decrease to Rs 134 per sq.ft in 2017, followed by an increase back to Rs 200 per sq.ft in 2023.

What are the stamp duty and registration fees for a property in Moorthi Nagar?

For a property valued at Rs 2,00,000, the stamp duty is Rs 14,000 and the registration fee is Rs 4,000, totaling Rs 18,000.

Which Sub Registrar Office is responsible for Moorthi Nagar?

The Sunguvarchattram Sub Registrar Office is responsible for Moorthi Nagar, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

What is the land classification of Moorthi Nagar?

Moorthi Nagar is classified as Residential Class II Type - I, which is important for determining its usage and valuation in property transactions.