Guideline Value for Arunachalam Mudali Street

Arunachalam Mudali Street guideline value

The current guideline value of Arunachalam Mudali Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village and falls under the Sowcarpet SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Arunachalam Mudali Street has changed

Over the years, the guideline value of Arunachalam Mudali Street has seen several revisions. The earliest available figure is from 2003, where the rate was Rs 861 per sq.ft. This increased to Rs 1,200 per sq.ft in 2007, reflecting a growth of 39%. The value then jumped significantly to Rs 4,000 per sq.ft in 2012, marking a remarkable increase of 233%. However, it fell to Rs 2,680 per sq.ft in 2017, a decrease of 33%. The value then rose again to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft as of the 2024 revision, which is a 10% increase from the previous year.

The register has no figure for this street in 2002. Overall, from 2003 to 2024, the guideline value has increased by 411%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value, ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the guideline value of Arunachalam Mudali Street.

• Arumugam Street: Rs 4,400 per sq.ft (2024)
• Ashabegam Street: Rs 4,400 per sq.ft (2024)
• Arak Godown Street: Rs 3,800 per sq.ft (2024)
• Appu Maistry Street: Rs 4,900 per sq.ft (2024)
• Asirvathapuram 10th Lane: Rs 4,400 per sq.ft (2024)
• Asirvathapuram 11th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Arunachalam Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000. Together, the total cost for duty and registration would be Rs 3,96,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Arunachalam Mudali Street?

The Sub Registrar Office that covers Arunachalam Mudali Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Muthiyalpet. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, this value is used to calculate stamp duty and registration fees, ensuring that both parties are aware of the legal obligations involved in the transaction.

During the registration process, the guideline value helps in establishing transparency and fairness in property dealings. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration of property.

Frequently asked questions

What is the current guideline value of Arunachalam Mudali Street?

The current guideline value of Arunachalam Mudali Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2003, the guideline value has increased from Rs 861 per sq.ft to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 411%.

What is the land classification for Arunachalam Mudali Street?

The land classification for Arunachalam Mudali Street is Residential Class I Type - I.

Where can I find the Sowcarpet Sub Registrar Office?

The Sowcarpet Sub Registrar Office is located at No.11, Davidson Street, Sowcarpet, Chennai-01, Chennai registration zone.

How is stamp duty calculated for properties in Muthiyalpet?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at a rate of 7%.