Guideline Value for Moorthy Avenue 1st Street

Moorthy Avenue 1st Street guideline value

The current guideline value of Moorthy Avenue 1st Street is Rs 3,960 per sq.ft, effective from 1 July 2024. This street is located in Porur village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Moorthy Avenue 1st Street has changed

The guideline value for Moorthy Avenue 1st Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,600 per sq.ft, which was followed by a decrease to Rs 2,412 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 3,600 per sq.ft, and the latest revision in 2024 saw it rise to Rs 3,960 per sq.ft, reflecting a 10% increase from the previous year.

Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value is Rs 3,960 per sq.ft, which is the same as the guideline value for Moorthy Avenue 1st Street.

• Moorthy Avenue: Rs 3,960 per sq.ft (2024)
• Moorthy Avenue 2nd Street: Rs 3,960 per sq.ft (2024)
• Moorthy Avenue 3rd Street: Rs 3,960 per sq.ft (2024)
• Mount Poovai Salai: Rs 6,380 per sq.ft (2024)
• M.S. Nagar: Rs 4,290 per sq.ft (2024)
• Mugalivakkam Road (Highways): Rs 4,290 per sq.ft (2024)

Stamp duty and registration fee for property in Moorthy Avenue 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value amounts to Rs 39,60,000. The stamp duty at 7% would be Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, bringing the total to Rs 3,56,400. It is important to note that the 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 Moorthy Avenue 1st Street?

The Sub Registrar Office that covers Moorthy Avenue 1st Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Porur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Moorthy Avenue 1st Street?

The current guideline value of Moorthy Avenue 1st Street is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: Rs 3,600 per sq.ft in 2023, Rs 2,412 per sq.ft in 2017, and Rs 3,600 per sq.ft in 2012. The latest revision in 2024 increased it to Rs 3,960 per sq.ft.

What is the land classification for Moorthy Avenue 1st Street?

Moorthy Avenue 1st Street is classified as Residential Special Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 39,60,000, the stamp duty would be Rs 2,77,200 and the registration fee would be Rs 79,200, totaling Rs 3,56,400.

Which office handles registrations for Moorthy Avenue 1st Street?

The Kunrathur Sub Registrar Office handles registrations for Moorthy Avenue 1st Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.