Guideline Value for Moventher Nagar

Moventher Nagar guideline value

The current guideline value of Moventher Nagar, located in Noombal village under the Kunrathur SRO, is Rs 2,090 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Moventher Nagar has changed

The guideline value for Moventher Nagar has seen significant changes over the years. In 2003, the guideline value was Rs 97 per sq.ft. This figure rose dramatically to Rs 1,273 per sq.ft in 2017, marking an increase of 1212%. By the 2023 revision, the value further increased to Rs 1,900 per sq.ft, which is a 49% rise from the previous revision. The most recent revision in 2024 has set the guideline value at Rs 2,090 per sq.ft, reflecting a 10% increase from 2023.

There are no figures available for the years 2002, 2007, and 2012 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 2055%.

Guideline values in Noombal

Noombal village has a total of 164 streets under the Kunrathur SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, which is the same as the current value for Moventher Nagar.

• Mooventher Nagar Phase 1: Rs 2,090 per sq.ft (2024)
• Mooventher Nagar Annexe: Rs 2,090 per sq.ft (2024)
• Moogambigai Nagar Ist Cross Street: 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)
• Muthumani Nagar: Rs 2,090 per sq.ft (2024)

Stamp duty and registration fee for property in Moventher Nagar

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

Which Sub Registrar Office covers Moventher Nagar?

The Sub Registrar Office that covers Moventher Nagar 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 plays a crucial role during the registration of property transactions in Noombal. It serves as a benchmark for calculating the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When buying or selling a property, the guideline value is used to determine the official value of the property for registration purposes. This ensures that the transaction is recorded accurately and that the appropriate fees are collected based on the established guideline values.

Frequently asked questions

What is the current guideline value of Moventher Nagar?

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

How much has the guideline value changed over the years?

Since 2003, the guideline value has increased significantly, from Rs 97 per sq.ft to Rs 2,090 per sq.ft in 2024, which is an overall increase of 2055%.

What is the land classification for Moventher Nagar?

Moventher Nagar is classified as Residential Special Type - I according to the guideline value register.

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

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value. For a property valued at Rs 20,90,000, the total fees would amount to Rs 1,88,100.

Which Sub Registrar Office covers Moventher Nagar?

The Kunrathur Sub Registrar Office covers Moventher Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.