Guideline Value for Moorthy Nagar 3rd Street

Moorthy Nagar 3rd Street guideline value

The current guideline value for Moorthy Nagar 3rd 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 3rd Street has changed

The guideline value for Moorthy Nagar 3rd Street has seen several revisions over the years. In 2012, the guideline value was Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, it increased significantly to Rs 1,000 per sq.ft, representing a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, comparing the 2012 figure to the 2024 figure, there has been a 10% increase in the guideline value.

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 the area is Rs 2,400 per sq.ft, which means that the 2024 figure for Moorthy Nagar 3rd Street is below this median.

• Moorthy Nagar 2nd Street: Rs 1,100 per sq.ft (2024)
• Moorthy Nagar Main Road: Rs 1,100 per sq.ft (2024)
• Moorthy Nagar 1st Street: 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total charges to Rs 99,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Moorthy Nagar 3rd Street?

The Sub Registrar Office that covers Moorthy Nagar 3rd 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 additional information.

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

The guideline value plays a crucial role during the registration of property transactions in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers need to be aware that these fees are based on the higher of the guideline value or the actual sale price, which helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value for Moorthy Nagar 3rd Street?

The current guideline value for Moorthy Nagar 3rd Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

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

Moorthy Nagar 3rd Street is classified as Residential Class IV Type - III.

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

The Sub Registrar Office for Moorthy Nagar 3rd Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Moorthy Nagar 3rd Street?

Stamp duty for properties in Moorthy Nagar 3rd Street is calculated based on the higher of the guideline value or the actual sale price. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at 7%.