Guideline Value for Moorthy Raja Street, Chennai 82

Moorthy Raja Street, Chennai 82 guideline value

The current guideline value of Moorthy Raja Street, Chennai 82 is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village and falls under the AnnaNagar SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Moorthy Raja Street, Chennai 82 has changed

The guideline value for Moorthy Raja Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a 300% increase. However, from 2012 to 2017, the value decreased to Rs 2,680 per sq.ft, a drop of 33%. The value then rose to Rs 4,000 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 set the guideline value at Rs 4,400 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing Moorthy Raja Street's 2024 figure below this median.

• M.P.Sivagnanam Street, Chennai 82: Rs 4,400 per sq.ft (2024)
• M.G.R. Street, Chennai 82 (Venkatesa Nagar): Rs 4,400 per sq.ft (2024)
• M.G.R. Street, Chennai 82: Rs 4,400 per sq.ft (2024)
• Mettu Street Lane: Rs 3,800 per sq.ft (2024)
• Mettu Street: Rs 5,500 per sq.ft (2024)
• Muthamman koil 2nd lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Moorthy Raja Street, Chennai 82

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. It is important to note that the duty is charged based 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 Raja Street, Chennai 82?

The Sub Registrar Office that covers Moorthy Raja Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Ayanavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Moorthy Raja Street, Chennai 82?

The current guideline value of Moorthy Raja Street, Chennai 82 is Rs 4,400 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 1,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 340%.

What is the land classification for Moorthy Raja Street?

Moorthy Raja Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles property registration for Moorthy Raja Street?

The AnnaNagar Sub Registrar Office handles property registration for Moorthy Raja Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.