Guideline Value for Moovender Street

Moovender Street guideline value

The current guideline value of Moovender Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Moovender Street has changed

The guideline value of Moovender Street has seen significant changes over the years. In the 2007 revision, the value was Rs 620 per sq.ft, which increased to Rs 2,010 per sq.ft in 2017, marking a substantial rise of 224%. The 2023 revision set the value at Rs 3,000 per sq.ft, reflecting a 49% increase from the previous revision. The current value of Rs 3,300 per sq.ft in 2024 represents a 10% increase from 2023.

It is important to note that 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 432%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Moovender Street's 2024 figure below this median.

• Moonai Garden Thottam Pillaiyar Koil Street: Rs 4,100 per sq.ft (2024)
• Moogambikai Street: Rs 4,100 per sq.ft (2024)
• M.P.C. Street (Ma.Po.C) (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Mrs. Indiragandhi Street: Rs 3,300 per sq.ft (2024)
• Model House: Rs 7,700 per sq.ft (2024)
• M.M. Ramasamy Street: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Moovender Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Moovender Street?

The Sub Registrar Office that covers Moovender Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Kodambakkam. It serves as a benchmark for determining the registration fees and stamp duty payable at the time of property registration. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the applicable duties. It is essential for both parties in a transaction to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Moovender Street?

The current guideline value of Moovender Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 620 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, representing a total increase of 432% over this period.

What is the land classification for Moovender Street?

Moovender Street is classified as Residential Class IV Type - II.

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

The Sub Registrar Office for Moovender Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Moovender Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 33,00,000 incurs a stamp duty of Rs 2,31,000 at 7%.