Guideline Value for Moovar Nagar

Moovar Nagar guideline value

The current guideline value of Moovar Nagar is Rs 825 per sq.ft, effective from 1 July 2024. This street is located in Kavulbazaar village, under the Pammal SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Moovar Nagar has changed

The guideline value for Moovar Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 502 per sq.ft, which increased to Rs 750 per sq.ft in 2023. The most recent revision in 2024 raised the guideline value to Rs 825 per sq.ft, marking a 10% increase from the previous year. Notably, from 2017 to 2023, the value saw a significant increase of 49%, and overall, from 2017 to 2024, it has risen by 64%.

There are no registered figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kavulbazaar

Kavulbazaar village has 44 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 825 to Rs 4,500 per sq.ft. The median guideline value for these streets is Rs 825 per sq.ft, which is equal to the guideline value of Moovar Nagar.

• M.L.R Street: Rs 825 per sq.ft (2024)
• MGR Street: Rs 825 per sq.ft (2024)
• Napc Sudarma: Rs 1,100 per sq.ft (2024)
• Neduchalai Street: Rs 1,100 per sq.ft (2024)
• Mariamman Koil Street: Rs 825 per sq.ft (2024)
• Manivannan Nagar: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Moovar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value would be Rs 8,25,000. The stamp duty at 7% would amount to Rs 57,750, and the registration fee at 2% would be Rs 16,500, bringing the total charges to Rs 74,250. 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 details.

Which Sub Registrar Office covers Moovar Nagar?

The Sub Registrar Office that covers Moovar 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 Kavulbazaar

The guideline value is a crucial factor in the registration process when buying or selling property in Kavulbazaar. It serves as a benchmark for the minimum price at which a property can be registered, ensuring that transactions are conducted at a value that reflects the current market conditions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs involved in the transfer of ownership. Buyers 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 Moovar Nagar?

The current guideline value of Moovar Nagar is Rs 825 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased by 64%, rising from Rs 502 per sq.ft to Rs 825 per sq.ft in 2024.

What is the registration office for Moovar Nagar?

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

How is stamp duty calculated in Moovar Nagar?

Stamp duty in Moovar Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot, the duty would be Rs 57,750 based on the current guideline value.

What are the guideline values of other streets in Kavulbazaar?

Other streets in Kavulbazaar have varying guideline values, ranging from Rs 825 to Rs 4,500 per sq.ft. Streets like M.L.R Street, MGR Street, and Mariamman Koil Street share the same guideline value of Rs 825 per sq.ft in 2024.