Guideline Value for Moovendhar Street

Moovendhar Street guideline value

The current guideline value of Moovendhar Street in Padiyanallur village, under the Redhills SRO, is Rs 770 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Moovendhar Street has changed

The guideline value for Moovendhar Street has undergone several revisions over the years. Starting from Rs 171 per sq.ft in 2003, it increased to Rs 400 per sq.ft in 2007. The value then rose significantly to Rs 700 per sq.ft in 2012, followed by a decrease to Rs 469 per sq.ft in 2017. The 2023 revision saw an increase to Rs 700 per sq.ft, and the latest revision in 2024 has set the value at Rs 770 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 350%. Notably, there is no figure available for Moovendhar Street in the 2002 revision.

Guideline values in Padiyanallur

Padiyanallur village has a total of 132 streets under the Redhills SRO, with guideline values ranging from Rs 385 to Rs 2,750 per sq.ft as of 2024. The median value for these streets is Rs 770 per sq.ft, which is the same as the 2024 guideline value for Moovendhar Street.

• Mondiamman Koil Street: Rs 1,320 per sq.ft (2024)
• Munuswamy Koil Street: Rs 770 per sq.ft (2024)
• M.G.R. Street: Rs 660 per sq.ft (2024)
• Muthu Mari Amman Street: Rs 770 per sq.ft (2024)
• Meenakshi Nagar: Rs 385 per sq.ft (2024)
• Matha Koil Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Moovendhar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, while the registration fee at 2% would be Rs 15,400, bringing the total fees to Rs 69,300. It is important to note that 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 details.

Which Sub Registrar Office covers Moovendhar Street?

The Sub Registrar Office that covers Moovendhar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for additional information.

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

The guideline value is a crucial factor in property transactions in Padiyanallur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration norms and to calculate applicable fees.

When registering a property, the guideline value is used to calculate stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives due revenue from property transactions.

Frequently asked questions

What is the current guideline value of Moovendhar Street?

The current guideline value of Moovendhar Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 171 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 350% over this period.

What is the registration office for Moovendhar Street?

The registration office for Moovendhar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Padiyanallur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 at a rate of 7%.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it sets the minimum value for property registration, ensuring compliance with legal requirements. It also influences the calculation of stamp duty and registration fees during property transactions.