Guideline Value for P.T. Moorthy Nagar

P.T. Moorthy Nagar guideline value

The current guideline value of P.T. Moorthy Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This locality is situated in Padiyanallur village, under the Redhills SRO, and is classified as Residential Special Type - I.

How the guideline value of P.T. Moorthy Nagar has changed

The guideline value for P.T. Moorthy Nagar has seen several revisions over the years. In 2003, the value was Rs 76 per sq.ft, which increased to Rs 300 per sq.ft in 2007. Following this, the value surged to Rs 1,200 per sq.ft in 2012, but then decreased to Rs 804 per sq.ft in 2017. The value rose significantly to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,320 per sq.ft from the 2024 revision. The changes from 2023 to 2024 reflect a 10% increase, while the jump from 2017 to 2023 shows a 49% rise.

From 2012 to 2017, there was a decrease of 33%, while the value increased dramatically by 300% from 2007 to 2012. The increase from 2003 to 2007 was 295%. Overall, from 2003 to 2024, the guideline value has increased by 1637%. It is important to note that the register has no figure for this street for the year 2002.

Guideline values in Padiyanallur

In Padiyanallur, there are 132 streets under the Redhills SRO, with guideline values ranging from Rs 385 to Rs 2,750 per sq.ft. The median guideline value is Rs 770 per sq.ft, placing P.T. Moorthy Nagar's 2024 figure above this median.

• Radhakrishnan Street: Rs 770 per sq.ft (2024)
• Rajaendra Prasad Street: Rs 2,750 per sq.ft (2024)
• Pillayar Koil Street (Near Jothi Nagar): Rs 770 per sq.ft (2024)
• Pillayar Koil Street: Rs 1,320 per sq.ft (2024)
• Pillaiar Koil Cross Street (M.A.NAGAR): Rs 1,320 per sq.ft (2024)
• Perunchithanar Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in P.T. Moorthy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total fees Rs 1,18,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers P.T. Moorthy Nagar?

The Sub Registrar Office that covers P.T. Moorthy Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

When buying or selling property in Padiyanallur, the guideline value is a crucial factor in determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the appropriate taxes are paid during the registration process.

The guideline value also serves as a reference point for property transactions, helping buyers and sellers understand the value of the property based on government assessments. It is essential to be aware of the current guideline value to ensure compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of P.T. Moorthy Nagar?

The current guideline value of P.T. Moorthy Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 76 per sq.ft in 2003 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 1637% over this period.

What is the median guideline value in Padiyanallur?

The median guideline value in Padiyanallur is Rs 770 per sq.ft, with P.T. Moorthy Nagar's current value being above this median.

What are the stamp duty and registration fees for P.T. Moorthy Nagar?

For a property valued at Rs 13,20,000 in P.T. Moorthy Nagar, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which Sub Registrar Office covers P.T. Moorthy Nagar?

The Redhills Sub Registrar Office covers P.T. Moorthy Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.