Guideline Value for Moorthy Nagar 1st Street

Moorthy Nagar 1st Street guideline value

The current guideline value of Moorthy Nagar 1st Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village under the Ambattur SRO and is classified as Residential Class IV Type - III.

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

The guideline value for Moorthy Nagar 1st Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where it was Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in 2017. The value then increased to Rs 1,000 per sq.ft in 2023 and finally to Rs 1,100 per sq.ft in 2024, marking a 10% increase from the previous year.

Between 2017 and 2023, the guideline value saw a significant increase of 49%. However, 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 Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO, with guideline values ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,400 per sq.ft, indicating that the 2024 figure for Moorthy Nagar 1st Street is below the median.

• Moorthy Nagar 2nd Street: Rs 1,100 per sq.ft (2024)
• Moorthy Nagar 3rd Street: Rs 1,100 per sq.ft (2024)
• Moorthy Nagar Main Road: Rs 1,100 per sq.ft (2024)
• Moorthy Street (Ambedkar Nagar): Rs 1,100 per sq.ft (2024)
• Mookambigai Nagar: Rs 880 per sq.ft (2024)
• M.T.H. Road: Rs 5,500 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, leading to a total of Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Moorthy Nagar 1st Street?

The Sub Registrar Office that covers Moorthy Nagar 1st Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Thirumullaivoyal, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

It is important for buyers and sellers to be aware of the guideline value, as it directly impacts the overall cost of property transactions. Accurate knowledge of these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

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

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

How has the guideline value changed over the years?

Over the years, the guideline value has seen various changes, with the most recent increase being from Rs 1,000 per sq.ft in 2023 to Rs 1,100 per sq.ft in 2024. The value was Rs 670 per sq.ft in 2017 and Rs 1,000 per sq.ft in 2012.

What is the land classification of Moorthy Nagar 1st Street?

Moorthy Nagar 1st Street is classified as Residential Class IV Type - III according to the land classification standards.

Where can I find the Ambattur Sub Registrar Office?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Moorthy Nagar 1st Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.