Guideline Value for Moorthy Avenue

Moorthy Avenue guideline value

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

How the guideline value of Moorthy Avenue has changed

The guideline value for Moorthy Avenue has seen several revisions over the years. In 2002, the value was Rs 356 per sq.ft, which increased to Rs 394 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 750 per sq.ft in 2007, representing a 90% increase. Following this, the value jumped to Rs 3,600 per sq.ft in 2012, a substantial increase of 380%. However, there was a decrease to Rs 2,412 per sq.ft in 2017, which was a decline of 33%. The value then increased again to Rs 3,600 per sq.ft in 2023, before reaching the current value of Rs 3,960 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1,012%. The register has no figure for the years not listed in the revisions for this street.

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 equal to the current value of Moorthy Avenue.

• Moorthy Avenue 1st Street: 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

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 39,60,000. The stamp duty at 7% would be Rs 2,77,200, while the registration fee at 2% would be Rs 79,200, totaling Rs 3,56,400. 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?

The Sub Registrar Office that covers Moorthy Avenue 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 during the registration of property transactions in Porur. It serves as a reference point for determining the stamp duty and registration fees applicable to the sale or purchase of property. The value ensures that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property should be registered. This helps in maintaining transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Moorthy Avenue?

The current guideline value of Moorthy Avenue 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 significantly from Rs 356 per sq.ft in 2002 to Rs 3,960 per sq.ft in 2024, reflecting an overall increase of 1,012% over the years.

What is the land classification for Moorthy Avenue?

Moorthy Avenue is classified as Residential Special Type - I, which indicates its suitability for residential development.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Moorthy Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 39,60,000, the stamp duty would be Rs 2,77,200 at a rate of 7%.