Guideline Value for Moorthy Street

Moorthy Street guideline value

The current guideline value of Moorthy Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - II.

How the guideline value of Moorthy Street has changed

The guideline value register for Moorthy Street has no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision is from 2024, which sets the guideline value at Rs 1,650 per sq.ft.

Since there are no previous figures recorded for this street in the guideline value register, the 2024 figure stands alone as the current reference point.

Guideline values in Madipakkam-1

In Madipakkam-1, there are a total of 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing Moorthy Street's 2024 figure below this median.

• M.P. Rajagopalan Street: Rs 2,200 per sq.ft (2024)
• M.K.N. Road: Rs 2,200 per sq.ft (2024)
• M.G.R. Street 2nd Street: Rs 1,650 per sq.ft (2024)
• M.G.R. Street 1st Street: Rs 1,650 per sq.ft (2024)
• Murugan Street: Rs 2,750 per sq.ft (2024)
• Murugappa Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Moorthy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Moorthy Street?

Moorthy Street falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your specific SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This helps maintain a standardized approach to property valuation in the area.

Frequently asked questions

What is the current guideline value of Moorthy Street?

The current guideline value of Moorthy Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

What is the land classification of Moorthy Street?

Moorthy Street is classified as Residential Class II Type - II according to the guideline value register.

How many streets are there in Madipakkam-1 under the Velacheri SRO?

There are a total of 1,823 streets in Madipakkam-1 under the Velacheri SRO, with varying guideline values.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, which is higher than the current value of Moorthy Street.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.