Guideline Value for Moovar Street

Moovar Street guideline value

The current guideline value of Moovar Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Moovar Street has changed

The guideline value for Moovar Street has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 450 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a 344% rise. However, in 2017, the value decreased to Rs 1,340 per sq.ft, which was a decline of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, and finally reached Rs 2,200 per sq.ft in 2024, representing a 10% increase from the previous year.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Over the entire period from 2007 to 2024, the overall increase in the guideline value is 389%. It is important to note that there are no recorded figures for Moovar Street in the years 2002 and 2003.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is the same as the current value for Moovar Street.

• Mohan Street: Rs 2,200 per sq.ft (2024)
• Mullai Street: Rs 1,400 per sq.ft (2024)
• Munirathinam Street: Rs 1,100 per sq.ft (2024)
• Munirathinam Street 1st Lane: Rs 1,100 per sq.ft (2024)
• Munirathinam Street 2nd Lane: Rs 1,100 per sq.ft (2024)
• Munisundaram Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Moovar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Moovar Street?

The Sub Registrar Office that covers Moovar Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Selaiyur

The guideline value is a critical factor during the registration of property transactions in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the officially recognized value of the property.

When buying or selling property, it is essential to be aware of the guideline value, as it impacts the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Moovar Street?

The current guideline value of Moovar Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 389% over the years.

What are the other streets in Selaiyur with their guideline values?

Other streets in Selaiyur include Mohan Street at Rs 2,200 per sq.ft, Mullai Street at Rs 1,400 per sq.ft, and several others ranging from Rs 1,100 to Rs 2,200 per sq.ft.

What fees are associated with buying property in Moovar Street?

When buying property in Moovar Street, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Moovar Street?

The Sub Registrar Office for Moovar Street is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.