Guideline Value for Moorthy Avenue 3rd Street

Moorthy Avenue 3rd Street guideline value

The current guideline value of Moorthy Avenue 3rd 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 3rd Street has changed

Since its last revision, the guideline value for Moorthy Avenue 3rd Street has seen significant changes. The 2012 revision set the value at Rs 3,600 per sq.ft, which was then reduced to Rs 2,412 per sq.ft in the 2017 revision. However, the value increased to Rs 3,600 per sq.ft in 2023 and further to Rs 3,960 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%, while the shift from 2012 to 2017 saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Porur

In Porur village, there are 530 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft, with a median value of Rs 3,960 per sq.ft. Moorthy Avenue 3rd Street's guideline value is equal to this median.

• Moorthy Avenue 2nd Street: Rs 3,960 per sq.ft (2024)
• Moorthy Avenue 1st Street: Rs 3,960 per sq.ft (2024)
• Moorthy Avenue: 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 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 3,960 per sq.ft, the 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, totaling Rs 3,56,400. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Moorthy Avenue 3rd Street?

The Moorthy Avenue 3rd Street falls under 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 an important factor during the registration of property transactions in Porur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Moorthy Avenue 3rd Street?

The current guideline value of Moorthy Avenue 3rd 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 changed from Rs 3,600 per sq.ft in 2023 to Rs 3,960 per sq.ft in 2024. It was Rs 2,412 per sq.ft in 2017 and Rs 3,600 per sq.ft in 2012.

What is the land classification for Moorthy Avenue 3rd Street?

Moorthy Avenue 3rd Street is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Moorthy Avenue 3rd Street?

The Kunrathur Sub Registrar Office, which covers Moorthy Avenue 3rd Street, is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Porur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The rates vary, and it is advisable to use a stamp duty and registration fee calculator for accurate calculations.