Guideline Value for Ayya Mudali street

Ayya Mudali street guideline value

The current guideline value of Ayya Mudali street in Chindadripet village, under the Periamet SRO, is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - II.

How the guideline value of Ayya Mudali street has changed

The guideline value for Ayya Mudali street has undergone several revisions over the years. The 2007 revision set the value at Rs 3,200 per sq.ft, which increased to Rs 5,500 per sq.ft in 2012, marking a 72% rise. However, the value decreased to Rs 3,685 per sq.ft in 2017, reflecting a decline of 33%. The subsequent revision in 2023 saw a significant increase to Rs 5,500 per sq.ft, and the latest revision in 2024 has set the value at Rs 6,000 per sq.ft, which is a 9% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for Ayya Mudali street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 88%.

Guideline values in Chindadripet

In Chindadripet, there are 98 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,500 to Rs 18,100 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, indicating that Ayya Mudali street's 2024 figure is above this median.

• Ayya mudali lane: Rs 3,800 per sq.ft (2024)
• Ayya Mudalai Street: Rs 3,800 per sq.ft (2024)
• Audiyappa Chety street: Rs 3,800 per sq.ft (2024)
• Arunchala lane: Rs 3,800 per sq.ft (2024)
• Arunachala Naicken street: Rs 8,200 per sq.ft (2024)
• Balakrishna Pillai 1st lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ayya Mudali street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total fees to Rs 5,40,000. It is important to note that stamp duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Ayya Mudali street?

The Sub Registrar Office that covers Ayya Mudali street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chindadripet. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value ensures that the government receives appropriate revenue from the transaction. Buyers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Ayya Mudali street?

The current guideline value of Ayya Mudali street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,200 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 88% over the years.

What are the stamp duty and registration fees for property in Ayya Mudali street?

For a property valued at Rs 60,00,000, the stamp duty would be Rs 4,20,000 and the registration fee would be Rs 1,20,000, totaling Rs 5,40,000.

Which office handles registrations for Ayya Mudali street?

The Periamet Sub Registrar Office handles registrations for Ayya Mudali street, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the significance of the guideline value in property transactions?

The guideline value is essential in determining the stamp duty and registration fees during property transactions, ensuring that the government receives due revenue from these sales.