Guideline Value for Moovendhar Nagar Extn

Moovendhar Nagar Extn guideline value

The current guideline value of Moovendhar Nagar Extn is Rs 2,970 per sq.ft, effective from 1 July 2024. This area is located in Perungalathur village and falls under the Padappai SRO. The land classification for this street is Commercial Class I Type - II.

How the guideline value of Moovendhar Nagar Extn has changed

The guideline value for Moovendhar Nagar Extn has seen several revisions over the years. In 2012, the guideline value was Rs 2,700 per sq.ft, which decreased to Rs 1,809 per sq.ft in 2017. Following this, the value significantly increased to Rs 2,700 per sq.ft in 2023 and then to Rs 2,970 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. Moovendhar Nagar Extn's 2024 guideline value is above this median.

• MOOVENDHAR NAGAR EXTN 9th and 11th Street: Rs 3,960 per sq.ft (2024)
• Mooventhar Nagar: Rs 2,970 per sq.ft (2024)
• Moonstone Villas: Rs 2,640 per sq.ft (2024)
• Mothilal Street: Rs 2,640 per sq.ft (2024)
• Moolai Theru: Rs 2,310 per sq.ft (2024)
• MRK Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Moovendhar Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total to Rs 2,67,300. Note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for your calculations.

Which Sub Registrar Office covers Moovendhar Nagar Extn?

The Sub Registrar Office that covers Moovendhar Nagar Extn is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Perungalathur. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers need to be aware that the guideline value may influence the overall cost of property transactions.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. It helps maintain transparency in property dealings and ensures that both buyers and sellers are aware of the official valuation of the property.

Frequently asked questions

What is the current guideline value of Moovendhar Nagar Extn?

The current guideline value of Moovendhar Nagar Extn is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2012 to Rs 1,809 per sq.ft in 2017, then increased to Rs 2,700 per sq.ft in 2023, and finally to Rs 2,970 per sq.ft in 2024.

What is the land classification for Moovendhar Nagar Extn?

The land classification for Moovendhar Nagar Extn is Commercial Class I Type - II.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Moovendhar Nagar Extn?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 29,70,000, leading to a stamp duty of Rs 2,07,900.