Guideline Value for Moottaikaran street

Moottaikaran street guideline value

The current guideline value of Moottaikaran street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village and falls under the Chennai North Joint I SRO, classified as Residential Class I Type - II.

How the guideline value of Moottaikaran street has changed

The guideline value for Moottaikaran street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 2,000 per sq.ft. This increased significantly to Rs 6,500 per sq.ft in 2012, but then dropped to Rs 4,355 per sq.ft in 2017. The value saw a substantial rise to Rs 6,500 per sq.ft in 2023, and currently stands at Rs 7,100 per sq.ft as of the 2024 revision. The revisions for 2002 and 2003 do not have any figures recorded for this street.

In terms of percentage changes, from 2007 to 2012, the value increased by 225%. However, it decreased by 33% from 2012 to 2017. The value then surged by 49% from 2017 to 2023, and finally, there was a 9% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 255%.

Guideline values in Muthialpet

In Muthialpet village, there are 160 streets under the Chennai North Joint I SRO with a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median guideline value for these streets is Rs 5,500 per sq.ft, placing Moottaikaran street's 2024 value above this median.

• Moorthy lingam lane+: Rs 3,800 per sq.ft (2024)
• Moorthigal lane: Rs 11,000 per sq.ft (2024)
• Moore street Ist lane: Rs 7,700 per sq.ft (2024)
• Moore street 2nd lane: Rs 7,700 per sq.ft (2024)
• Moore street: Rs 15,900 per sq.ft (2024)
• Mooker Nallamuthu street: Rs 18,000 per sq.ft (2024)

Stamp duty and registration fee for property in Moottaikaran street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, making the total charges Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Moottaikaran street?

The Sub Registrar Office that covers Moottaikaran street is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Muthialpet. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This ensures that the fees are calculated based on a standardized value set by the government.

It is essential for buyers and sellers to be aware of the guideline value as it impacts the overall cost of property transactions. Understanding this value helps in making informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of Moottaikaran street?

The current guideline value of Moottaikaran street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 255% over the years.

What is the median guideline value in Muthialpet?

The median guideline value for the 160 streets in Muthialpet under the Chennai North Joint I SRO is Rs 5,500 per sq.ft.

What are the stamp duty and registration fees for properties in Moottaikaran street?

For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Where is the Sub Registrar Office for Moottaikaran street located?

The Sub Registrar Office for Moottaikaran street is located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.