Guideline Value for Moorthy Nagar

Moorthy Nagar guideline value

The current guideline value of Moorthy Nagar, located in Kathirvedu village under the Ambattur SRO, is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Moorthy Nagar has changed

The guideline value of Moorthy Nagar has seen significant changes over the years. In 2003, the guideline value was Rs 70 per sq.ft, which increased to Rs 346 per sq.ft in 2007. Following this, the value jumped to Rs 1,800 per sq.ft in 2012, before dropping to Rs 1,206 per sq.ft in 2017. The 2023 revision set the value at Rs 1,800 per sq.ft, and the latest revision for 2024 has increased it to Rs 1,900 per sq.ft.

From 2017 to 2023, there was a notable increase of 49%. The jump from 2012 to 2017 marked a decrease of 33%. The 2007 to 2012 period saw a dramatic increase of 420%, while the value rose by 394% from 2003 to 2007. Overall, from 2003 to 2024, the guideline value has increased by 2,614%.

Guideline values in Kathirvedu

In Kathirvedu, there are 78 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 1,500 per sq.ft. Moorthy Nagar's 2024 guideline value of Rs 1,900 per sq.ft is above this median.

• Mugambekai Nagar: Rs 1,800 per sq.ft (2024)
• Mathew Street: Rs 1,100 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,500 per sq.ft (2024)
• Northern Ally Phase-I: Rs 4,200 per sq.ft (2024)
• Northern Ally Phase-II: Rs 4,200 per sq.ft (2024)
• Northern Ally Phase-III: Rs 6,000 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 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000. Together, the total cost for these fees would be Rs 1,71,000. It is important to note that the 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 information.

Which Sub Registrar Office covers Moorthy Nagar?

The Sub Registrar Office that covers Moorthy Nagar 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 details.

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

The guideline value is a crucial factor during property registration in Kathirvedu. 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 property transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Moorthy Nagar?

The current guideline value of Moorthy Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, with an overall increase of 2,614% from 2003 to 2024. The most recent change was an increase of 6% from 2023 to 2024.

What is the land classification of Moorthy Nagar?

Moorthy Nagar is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in Moorthy Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 19,00,000, the total fees would amount to Rs 1,71,000.

Where is the Sub Registrar Office for Moorthy Nagar located?

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