Guideline Value for Mooventhar Street

Mooventhar Street guideline value

The current guideline value of Mooventhar Street is Rs 200 per sq.ft. This street is located in Vada Mangalam village, under the Sunguvarchattram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Mooventhar Street has changed

The guideline value for Mooventhar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged in the subsequent 2017 revision. However, the 2017 figure of Rs 134 per sq.ft marked a decrease of 33% from the 2012 value. The 2023 revision also maintained the value at Rs 200 per sq.ft, and the latest 2024 revision continues this trend, showing no change from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has remained stable at Rs 200 per sq.ft, indicating no overall change. It is important to note that the register has no figures for the years 2002, 2003, and 2007 regarding this street.

Guideline values in Vada Mangalam

In Vada Mangalam, there are 23 streets under the Sunguvarchattram SRO that have a 2024 guideline value ranging from Rs 200 to Rs 400 per sq.ft. The median value for these streets is Rs 250 per sq.ft, placing Mooventhar Street's 2024 figure below this median.

• M.G.R Street: Rs 200 per sq.ft (2024)
• M.B.C Street: Rs 250 per sq.ft (2024)
• Narayana Nagar-II: Rs 350 per sq.ft (2024)
• N.S.K Salai: Rs 350 per sq.ft (2024)
• Kullakarai Street: Rs 200 per sq.ft (2024)
• Periyapallaiyathamman Kovil Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Mooventhar Street

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mooventhar Street?

The Sub Registrar Office that covers Mooventhar Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Vada Mangalam. It serves as a reference for the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps determine the financial obligations involved in the transaction. Buyers should be aware that the stamp duty is calculated based on the guideline value or the sale price, whichever is higher, to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Mooventhar Street?

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

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent changes showing no increase from Rs 200 per sq.ft in both the 2023 and 2024 revisions. However, there was a significant increase of 49% from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023.

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

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 at 7%, and the registration fee would be Rs 4,000 at 2%, totaling Rs 18,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office is responsible for Mooventhar Street?

The Sunguvarchattram Sub Registrar Office is responsible for Mooventhar Street, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

What is the land classification of Mooventhar Street?

Mooventhar Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes within the area.