Guideline Value for Muvarasampattu Main Road

Muvarasampattu Main Road guideline value

The current guideline value of Muvarasampattu Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This road is located in Moovarasampattu village under the Alandur SRO and is classified as Commercial Class I Type - II.

How the guideline value of Muvarasampattu Main Road has changed

The guideline value for Muvarasampattu Main Road has seen several revisions over the years. The earliest recorded value was Rs 251 per sq.ft in 2002, which increased to Rs 700 per sq.ft in 2003, marking a significant increase of 179%. Following this, the value rose to Rs 1,000 per sq.ft in 2007, reflecting a 43% increase. In 2012, the guideline value was recorded at Rs 4,000 per sq.ft, which was a substantial increase of 300% from the previous revision. However, it then decreased to Rs 2,680 per sq.ft in 2017, representing a decline of 33%.

From 2017 to 2023, the value increased by 49%, bringing it to Rs 4,000 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,653%.

Guideline values in Moovarasampattu

In Moovarasampattu, there are 68 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Muvarasampattu Main Road is above this median.

• Narmatha Street(GANGA NAGAR): Rs 3,300 per sq.ft (2024)
• Mount Medavakkam Road: Rs 5,500 per sq.ft (2024)
• Medavakkam Main Road: Rs 5,500 per sq.ft (2024)
• Madipakkam Main Road: Rs 3,300 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 3,300 per sq.ft (2024)
• Kulakkarai Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muvarasampattu Main Road

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muvarasampattu Main Road?

The Sub Registrar Office that covers Muvarasampattu Main Road is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Moovarasampattu. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When a property transaction occurs, the guideline value is used to calculate the applicable stamp duty and registration fees. It is essential for both parties to understand that these fees are based on the higher of the guideline value or the sale price, ensuring that the transaction is recorded accurately.

Frequently asked questions

What is the current guideline value of Muvarasampattu Main Road?

The current guideline value of Muvarasampattu Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 251 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, an overall increase of 1,653%.

What is the land classification for Muvarasampattu Main Road?

Muvarasampattu Main Road is classified as Commercial Class I Type - II.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where is the Sub Registrar Office located for Muvarasampattu Main Road?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.