Guideline Value for Ayya mudali lane

Ayya mudali lane guideline value

The current guideline value of Ayya mudali lane in Chindadripet village, under the Periamet SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - II land classification.

How the guideline value of Ayya mudali lane has changed

Over the years, the guideline value of Ayya mudali lane has seen significant changes. In the 2007 revision, the value was Rs 1,000 per sq.ft. This increased dramatically to Rs 3,500 per sq.ft in the 2012 revision, marking a 250% rise. However, in the 2017 revision, the value decreased to Rs 2,345 per sq.ft, reflecting a drop of 33%. The value then rose to Rs 3,500 per sq.ft in 2023, before reaching the current value of Rs 3,800 per sq.ft in 2024, which is a 9% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a substantial increase of 49%. Overall, from the 2007 revision to the current 2024 value, there has been a remarkable increase of 280%. It is important to note that the register has no figures for this street in the years 2002 and 2003.

Guideline values in Chindadripet

Chindadripet village has a total of 98 streets under the Periamet SRO, with guideline values 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, placing Ayya mudali lane's 2024 guideline value above this median.

• Ayya Mudalai Street: Rs 3,800 per sq.ft (2024)
• Ayya Mudali street: Rs 6,000 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 lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees to Rs 3,42,000. 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 Ayya mudali lane?

The Sub Registrar Office that covers Ayya mudali lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for additional assistance.

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

The guideline value is a crucial factor in property transactions in Chindadripet. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When a property is sold, the registration office uses the guideline value to calculate the applicable stamp duty and registration fees. This ensures that all transactions are conducted transparently and fairly, reflecting the official valuation of the property.

Frequently asked questions

What is the current guideline value of Ayya mudali lane?

The current guideline value of Ayya mudali lane is Rs 3,800 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 1,000 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 280% over this period.

What are the stamp duty and registration fees for properties in Ayya mudali lane?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which Sub Registrar Office handles registrations for Ayya mudali lane?

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

What is the land classification for Ayya mudali lane?

Ayya mudali lane is classified as Residential Class I Type - II, which influences its guideline value and property transactions.