Guideline Value for Mooventhar Nagar

Mooventhar Nagar guideline value

The current guideline value of Mooventhar Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024. This area is located in Perungalathur village, under the Padappai SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Mooventhar Nagar has changed

Over the years, the guideline value of Mooventhar Nagar has seen significant changes. The earliest recorded revision was in 2007, where the value was Rs 350 per sq.ft. This increased dramatically to Rs 2,700 per sq.ft in 2012, marking a rise of 671%. However, from 2012 to 2017, the value decreased to Rs 1,809 per sq.ft, a drop of 33%. The value then increased again to Rs 2,700 per sq.ft in 2023, followed by a further rise to Rs 2,970 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the value rose by 49%. Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 749%. It is important to note that there are no figures available for the revisions in 2002 and 2003 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. Mooventhar Nagar's current guideline value is above this median.

• MOOVENDHAR NAGAR EXTN 9th and 11th Street: Rs 3,960 per sq.ft (2024)
• Moovendhar Nagar Extn: Rs 2,970 per sq.ft (2024)
• Mothilal Street: Rs 2,640 per sq.ft (2024)
• Moonstone Villas: 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 Mooventhar Nagar

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 amount to Rs 2,07,900, while the registration fee at 2% would be Rs 59,400, bringing the total to Rs 2,67,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Mooventhar Nagar?

The Sub Registrar Office that covers Mooventhar Nagar 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 in property transactions in Perungalathur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees. Buyers and sellers must consider this value when negotiating sale prices.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. These costs are based on the higher of the guideline value or the actual sale price, ensuring that the transaction is appropriately taxed.

Frequently asked questions

What is the current guideline value of Mooventhar Nagar?

The current guideline value of Mooventhar Nagar 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 significantly, from Rs 350 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, showing an overall increase of 749%.

What is the land classification for Mooventhar Nagar?

Mooventhar Nagar is classified as Commercial Class I Type - II, which indicates its suitability for commercial activities.

What are the stamp duty and registration fees for a property in Mooventhar Nagar?

The stamp duty is calculated at 7% and the registration fee at 2% of the guideline value. For a 1,000 sq.ft plot, the total costs would amount to Rs 2,67,300.

Which office handles property registrations in Mooventhar Nagar?

The Padappai Sub Registrar Office handles property registrations for Mooventhar Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.