Guideline Value for Moorthy Nagar

Moorthy Nagar guideline value

The current guideline value of Moorthy Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024. This area is located in Kerugambakkam village and falls under the Pammal SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Moorthy Nagar has changed

The guideline value of Moorthy Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 1,072 per sq.ft, which was then increased to Rs 1,600 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the guideline value to Rs 1,760 per sq.ft, marking a 10% increase from the 2023 figure.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2017 to 2024, there has been a significant increase of 64%. There are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Kerugambakkam

In Kerugambakkam, there are 144 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 4,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Moorthy Nagar is below this median.

• M.K.Nagar: Rs 1,980 per sq.ft (2024)
• M.G.R.Street (ward 9): Rs 1,980 per sq.ft (2024)
• Multi Industrial Nagar: Rs 2,750 per sq.ft (2024)
• M.G.R.Street (ward 1): Rs 1,980 per sq.ft (2024)
• Muthu Mariamman Koil Street: Rs 1,980 per sq.ft (2024)
• Muthu Ramalinga Devar Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Moorthy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, leading to a total cost of Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Moorthy Nagar?

The Sub Registrar Office covering Moorthy Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kerugambakkam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value helps ensure that the transaction is transparent and that the appropriate taxes are collected by the government. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Moorthy Nagar?

The current guideline value of Moorthy Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,072 per sq.ft in 2017 to Rs 1,600 in 2023, and now to Rs 1,760 in 2024. This marks an overall increase of 64% from 2017 to 2024.

What is the land classification for Moorthy Nagar?

Moorthy Nagar is classified as Residential Class III Type - I. This classification affects the guideline value and the types of properties that can be developed in the area.

Where can I find the registration office for Moorthy Nagar?

The registration office for Moorthy Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is stamp duty calculated for properties in Moorthy Nagar?

Stamp duty for properties in Moorthy Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 1,23,200 based on the current guideline value.