Guideline Value for Moovar Nagar

Moovar Nagar guideline value

The current guideline value of Moovar Nagar in Pozhichalur village is Rs 1,320 per sq.ft, effective from 1 July 2024. This area falls under the Pammal SRO and is classified as Residential Class I Type - II.

How the guideline value of Moovar Nagar has changed

The guideline value for Moovar Nagar has seen significant changes over the years. In the 2007 revision, the value was Rs 400 per sq.ft. This increased to Rs 804 per sq.ft in 2017, marking a 101% rise. The 2023 revision set the value at Rs 1,200 per sq.ft, reflecting a 49% increase from the previous revision. The latest revision in 2024 has further increased the guideline value to Rs 1,320 per sq.ft, which is a 10% rise from 2023.

There are no figures available for the years 2002, 2003, and 2012 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median guideline value is Rs 1,320 per sq.ft, which is the same as the current value for Moovar Nagar.

• Moorthi Street: Rs 1,320 per sq.ft (2024)
• Moobika Nagar: Rs 1,320 per sq.ft (2024)
• M.K.Stalin Street: Rs 1,320 per sq.ft (2024)
• Millima Nagar: Rs 1,320 per sq.ft (2024)
• M.G.R. Street: Rs 1,320 per sq.ft (2024)
• Murugan Street (4): Rs 1,100 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty is charged at 7%, which amounts to Rs 92,400, and the registration fee is 2%, totaling Rs 26,400. Together, the total fees would be Rs 1,18,800. 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 our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Moovar Nagar?

The Moovar Nagar area is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pozhichalur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When a transaction occurs, the guideline value helps determine the minimum amount on which the stamp duty is levied, thereby protecting the interests of both buyers and sellers during the registration process.

Frequently asked questions

What is the current guideline value of Moovar Nagar?

The current guideline value of Moovar Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2007?

Since 2007, the guideline value has increased from Rs 400 per sq.ft to Rs 1,320 per sq.ft in 2024, which is a total increase of 230% over the years.

What is the classification of land in Moovar Nagar?

Moovar Nagar is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, within the Chengalpattu registration zone.

How is stamp duty calculated for properties in Moovar Nagar?

Stamp duty for properties in Moovar Nagar is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.