Guideline Value for Mortein Luther St

Mortein Luther St guideline value

The current guideline value of Mortein Luther St is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Special Type - II.

How the guideline value of Mortein Luther St has changed

Over the years, the guideline value of Mortein Luther St has seen several revisions. The earliest recorded figure is from 2012, where it was set at Rs 3,500 per sq.ft. This value remained unchanged until the 2017 revision, which saw a decrease to Rs 2,345 per sq.ft. In 2023, the value increased to Rs 3,500 per sq.ft again, and the most recent revision in 2024 has set the guideline value at Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023. From 2012 to 2017, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 1,650 per sq.ft. Mortein Luther St's 2024 guideline value is above this median.

• Moorthy St: Rs 1,650 per sq.ft (2024)
• Moogambigai Street: Rs 1,650 per sq.ft (2024)
• Mohanarangan Street: Rs 2,750 per sq.ft (2024)
• M.M.D.A. Nagar Bharathi Street: Rs 1,650 per sq.ft (2024)
• M.G.R. Thangalkarai Street: Rs 1,650 per sq.ft (2024)
• Munu Adhi Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Mortein Luther St

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. It is important to note that 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 details.

Which Sub Registrar Office covers Mortein Luther St?

The Sub Registrar Office that covers Mortein Luther St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Chitlapakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with the registration norms set by the government.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Mortein Luther St?

The current guideline value of Mortein Luther St is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, which is a 10% increase. It was Rs 2,345 per sq.ft in 2017 and Rs 3,500 per sq.ft in 2012.

What is the land classification for Mortein Luther St?

Mortein Luther St is classified as Residential Special Type - II. This classification affects the guideline value and property usage in the area.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Where is the Sub Registrar Office for Mortein Luther St located?

The Sub Registrar Office for Mortein Luther St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.