Guideline Value for POOVAI MOORTHIYAR STREET

Poovai Moorthiyar Street guideline value

The current guideline value of Poovai Moorthiyar Street is Rs 330 per sq.ft, effective from 1 July 2024. This street is located in Theerthangiriyampattu village, under the Redhills SRO, and is classified as Residential Class III Type - I.

How the guideline value of Poovai Moorthiyar Street has changed

The guideline value for Poovai Moorthiyar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 300 per sq.ft, which then decreased to Rs 201 per sq.ft in 2017. Following this, the value increased significantly to Rs 300 per sq.ft in the 2023 revision, and then to Rs 330 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Theerthangiriyampattu

In Theerthangiriyampattu, there are 24 streets that have a guideline value for 2024, ranging from Rs 330 to Rs 880 per sq.ft. The median guideline value for these streets is Rs 605 per sq.ft, indicating that Poovai Moorthiyar Street's 2024 figure is below this median.

• Pillaiyar Koil Street: Rs 770 per sq.ft (2024)
• Paramanandam Nagar: Rs 330 per sq.ft (2024)
• New Star Garden: Rs 605 per sq.ft (2024)
• New Star City: Rs 585 per sq.ft (2024)
• Sathiavani Muthu Street: Rs 880 per sq.ft (2024)
• Moongilan Street: Rs 605 per sq.ft (2024)

Stamp duty and registration fee for property in Poovai Moorthiyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value would be Rs 3,30,000. The stamp duty at 7% would amount to Rs 23,100, and the registration fee at 2% would be Rs 6,600, resulting in a total of Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Poovai Moorthiyar Street?

The Sub Registrar Office that covers Poovai Moorthiyar Street 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 Theerthangiriyampattu

The guideline value is a crucial factor in property transactions in Theerthangiriyampattu. It serves as a reference point for determining the stamp duty and registration fees that must be paid when a property is bought or sold. This value is set by the government and is updated periodically to reflect changes in the real estate market.

When registering a property, buyers should be aware that the guideline value will be used to calculate the applicable fees. This ensures that all transactions are conducted transparently and that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Poovai Moorthiyar Street?

The current guideline value of Poovai Moorthiyar Street is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then back to Rs 300 per sq.ft in 2023, and finally to Rs 330 per sq.ft in 2024.

What is the land classification of Poovai Moorthiyar Street?

Poovai Moorthiyar Street is classified as Residential Class III Type - I.

Where can I find the Redhills Sub Registrar Office?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Poovai Moorthiyar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 3,30,000, the stamp duty at 7% would be Rs 23,100.