Guideline Value for Moorthiyar Nagar

Moorthiyar Nagar guideline value

The current guideline value of Moorthiyar Nagar, located in Mevaloorkuppam village under the Sriperumpudur SRO, is Rs 200 per sq.ft, effective from 1 July 2024. This area falls under Residential Class IV Type - I land classification.

How the guideline value of Moorthiyar Nagar has changed

The guideline value for Moorthiyar Nagar has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 200 per sq.ft. This was followed by a decrease to Rs 134 per sq.ft in 2017, representing a decline of 33%. The value further decreased to Rs 100 per sq.ft in 2023, marking a 25% drop from the previous revision. The most recent revision in 2024 has increased the guideline value to Rs 200 per sq.ft, reflecting a 100% increase from 2023.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, the guideline value has remained the same from 2012 to 2024, with no net change.

Guideline values in Mevaloorkuppam

In Mevaloorkuppam, there are 69 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 2,400 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value for Moorthiyar Nagar is below this median.

• Mevaloorkuppam Road(Nayapakkam Road): Rs 600 per sq.ft (2024)
• Mevaloorkuppam Nedunsalai: Rs 400 per sq.ft (2024)
• Mettu Street: Rs 200 per sq.ft (2024)
• Nadu Street: Rs 200 per sq.ft (2024)
• Mekkar Street: Rs 300 per sq.ft (2024)
• Nehru Cross Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Moorthiyar 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 at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Moorthiyar Nagar?

The Sub Registrar Office that covers Moorthiyar Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during property transactions in Mevaloorkuppam. It serves as the basis for calculating stamp duty and registration fees, which are mandatory when registering a property sale or purchase. Buyers and sellers must be aware of the current guideline value to ensure they comply with legal requirements and accurately assess the costs involved in the transaction.

When a property is registered, the higher value between the guideline value and the sale price is used to determine the applicable duties and fees. This ensures that the government receives the correct revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Moorthiyar Nagar?

The current guideline value of Moorthiyar Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then to Rs 100 per sq.ft in 2023, and finally back to Rs 200 per sq.ft in 2024.

What is the land classification for Moorthiyar Nagar?

Moorthiyar Nagar is classified as Residential Class IV Type - I according to the land classification guidelines.

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

The Sub Registrar Office for Moorthiyar Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Moorthiyar Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 at a rate of 7%.