Guideline Value for A.L.Mudaliyar Street

A.L.Mudaliyar Street guideline value

The current guideline value of A.L.Mudaliyar Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of A.L.Mudaliyar Street has changed

The guideline value for A.L.Mudaliyar Street has seen several revisions over the years. The earliest recorded value was Rs 200 per sq.ft in 2002, which increased to Rs 225 per sq.ft in 2003, marking a rise of 13%. The value then saw a significant increase to Rs 1,500 per sq.ft in 2007, which was a growth of 567%. Following this, the value rose to Rs 3,500 per sq.ft in 2012, reflecting a 133% increase. However, it dropped to Rs 2,345 per sq.ft in 2017, a decrease of 33%. The value then increased to Rs 3,500 per sq.ft in 2023, followed by a rise to the current value of Rs 3,850 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1825%. It is important to note that the register has no figures for this street for the years not mentioned above.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing A.L.Mudaliyar Street's 2024 figure below this median.

• Ambedkar colony: Rs 3,300 per sq.ft (2024)
• Ambedkar colony 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Ambedkar colony 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Ambedkar colony 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Ambedkar Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Ambedkar Nagar 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in A.L.Mudaliyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total cost for these fees Rs 3,46,500. 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 A.L.Mudaliyar Street?

The Sub Registrar Office that covers A.L.Mudaliyar Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of properties in Velachery. It serves as a benchmark for determining the minimum value of the property for registration purposes. When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of A.L.Mudaliyar Street?

The current guideline value of A.L.Mudaliyar Street 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 significantly from Rs 200 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 1825% over this period.

What are the stamp duty and registration fees for properties on A.L.Mudaliyar 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.

Which Sub Registrar Office is responsible for A.L.Mudaliyar Street?

The Velacheri Sub Registrar Office is responsible for A.L.Mudaliyar Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for A.L.Mudaliyar Street?

A.L.Mudaliyar Street is classified as Residential Class II Type - III according to the guidelines set by the local authorities.