Guideline Value for Moorthiyar Nagar

Moorthiyar Nagar guideline value

The current guideline value of Moorthiyar Nagar is Rs 100 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area is located in Mevaloorkuppam B village under the Sriperumpudur SRO and is classified as Residential Class IV Type - I.

How the guideline value of Moorthiyar Nagar has changed

The guideline value for Moorthiyar Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 134 per sq.ft, which was then reduced to Rs 100 per sq.ft in both the 2023 and 2024 revisions, marking a decrease of 25% from 2017 to 2023 and an overall decline of 25% from 2017 to 2024. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2023 to 2024, there has been no change in the guideline value, remaining at Rs 100 per sq.ft. This stability follows a significant drop from the previous years, illustrating a consistent valuation in recent times.

Guideline values in Mevaloorkuppam B

In Mevaloorkuppam B, there are 84 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 100 to Rs 6,200 per sq.ft, with a median value of Rs 400 per sq.ft. Moorthiyar Nagar's 2024 figure is below this median.

• Mevaloorkuppam Road(Nayapakkam Road): Rs 600 per sq.ft (2024)
• Mevaloorkuppam Nedunsalai: Rs 400 per sq.ft (2024)
• Muthu Mariamman Koil Street: Rs 500 per sq.ft (2024)
• Mettu Street: Rs 100 per sq.ft (2024)
• Nadu Street: Rs 100 per sq.ft (2024)
• Mekkar Street: Rs 300 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 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, while the registration fee at 2% would be Rs 2,000, bringing the total cost for these fees to Rs 9,000. It is important 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 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 further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mevaloorkuppam B. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the land registry.

When a property is sold, the guideline value is referenced to assess the appropriate fees, which helps maintain transparency in property transactions. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Moorthiyar Nagar?

The current guideline value of Moorthiyar Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has decreased from Rs 134 per sq.ft in 2017 to Rs 100 per sq.ft in both 2023 and 2024, reflecting a 25% reduction overall during this period.

What is the land classification for Moorthiyar Nagar?

Moorthiyar Nagar is classified as Residential Class IV Type - I, indicating its designation for residential purposes.

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

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

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 1,00,000 would incur a stamp duty of Rs 7,000 at 7%.