Guideline Value for ARASAPPA MUDALI STREET

Arasappa Mudali Street guideline value

The current guideline value of Arasappa Mudali Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Arasappa Mudali Street has changed

The guideline value for Arasappa Mudali Street has undergone several revisions over the years. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in the 2012 revision, marking a rise of 178%. However, the value then decreased to Rs 3,350 per sq.ft in the 2017 revision, reflecting a decline of 33%. The 2023 revision saw an increase to Rs 5,000 per sq.ft, and the most recent 2024 revision has raised it further to Rs 5,500 per sq.ft, a change of 10% from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 206%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, which aligns with the current guideline value of Arasappa Mudali Street.

• Appasamy Street: Rs 5,500 per sq.ft (2024)
• Arimuthu Street: Rs 5,500 per sq.ft (2024)
• Anusuya Avenue: Rs 8,800 per sq.ft (2024)
• Anthoni Street: Rs 5,500 per sq.ft (2024)
• Arunachalam 1st Lane: Rs 4,900 per sq.ft (2024)
• Arunachalam 2nd Lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Arasappa Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arasappa Mudali Street?

The Sub Registrar Office that covers Arasappa Mudali Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Purasaivakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Arasappa Mudali Street?

The current guideline value of Arasappa Mudali Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 206% over the years.

What is the land classification of Arasappa Mudali Street?

Arasappa Mudali Street is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Arasappa Mudali Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Arasappa Mudali Street?

The stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at 7%.