Guideline Value for Mooventher Nagar Phase 1

Mooventher Nagar Phase 1 guideline value

The current guideline value of Mooventher Nagar Phase 1 is Rs 2,090 per sq.ft, effective from 1 July 2024. This area is located in Noombal village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Mooventher Nagar Phase 1 has changed

The guideline value has seen significant changes over the years. In 2003, the guideline value was Rs 110 per sq.ft, which increased to Rs 1,273 per sq.ft in 2017. This marked a substantial increase of 1057%. Following that, the value rose to Rs 1,900 per sq.ft in 2023, reflecting a 49% increase from the previous revision. The latest revision in 2024 has set the value at Rs 2,090 per sq.ft, representing a 10% increase from 2023.

There are no figures available for the years 2002, 2007, and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by 1800%.

Guideline values in Noombal

In Noombal, there are 164 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,500 per sq.ft. The median value is Rs 2,090 per sq.ft, which is the same as the current value for Mooventher Nagar Phase 1.

• Mooventher Nagar Annexe: Rs 2,090 per sq.ft (2024)
• Moogambigai Nagar Ist Cross Street: Rs 2,090 per sq.ft (2024)
• Moventher Nagar: Rs 2,090 per sq.ft (2024)
• Moogambigai Nagar 2nd Cross Street: Rs 2,090 per sq.ft (2024)
• Moogambigai Nagar: Rs 2,860 per sq.ft (2024)
• Mettu Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Mooventher Nagar Phase 1

For a 1,000 sq.ft plot at the current rate of Rs 2,090 per sq.ft, the guideline value amounts to Rs 20,90,000. The stamp duty at 7% would be Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, totaling Rs 1,88,100. 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 more details.

Which Sub Registrar Office covers Mooventher Nagar Phase 1?

The Sub Registrar Office that covers Mooventher Nagar Phase 1 is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Noombal. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property. This value is used to ensure that the transaction is recorded accurately in the official registry.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate taxes based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Mooventher Nagar Phase 1?

The current guideline value of Mooventher Nagar Phase 1 is Rs 2,090 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 110 per sq.ft in 2003 to Rs 2,090 per sq.ft in 2024, marking an overall increase of 1800%.

What are the stamp duty and registration fees for property in Mooventher Nagar Phase 1?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,88,100, based on the current guideline value.

Which office handles registrations for Mooventher Nagar Phase 1?

The Kunrathur Sub Registrar Office handles registrations for Mooventher Nagar Phase 1, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Mooventher Nagar Phase 1?

Mooventher Nagar Phase 1 is classified as Residential Special Type - I, indicating its intended use for residential purposes.