Guideline Value for CHELLAPPA MUDALI STREET

Chellappa Mudali Street guideline value

The current guideline value of Chellappa Mudali Street is Rs 6,500 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 II Type - II.

How the guideline value of Chellappa Mudali Street has changed

Over the years, the guideline value of Chellappa Mudali Street has seen significant changes. In the 2007 revision, the value was Rs 1,800 per sq.ft, which increased to Rs 6,000 per sq.ft in the 2012 revision. However, this was followed by a decrease to Rs 4,020 per sq.ft in the 2017 revision. The value then rose to Rs 6,000 per sq.ft in the 2023 revision, before reaching the current figure of Rs 6,500 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002 and 2003.

From 2007 to 2024, the overall increase in the guideline value is 261%. The changes between the revisions include an increase of 233% from 2007 to 2012, a decrease of 33% from 2012 to 2017, and an increase of 49% from 2017 to 2023, culminating in an 8% increase from 2023 to 2024.

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 guideline value in this area is Rs 5,500 per sq.ft, placing Chellappa Mudali Street's current value above this median.

• Chellappa Gramani Street: Rs 5,500 per sq.ft (2024)
• Chennai Kesava Perumal Koil Street: Rs 4,900 per sq.ft (2024)
• Chinnababu Street: Rs 4,400 per sq.ft (2024)
• Chinnathambi Naicken Street: Rs 5,500 per sq.ft (2024)
• Chithalu Chetty Street: Rs 5,500 per sq.ft (2024)
• Chokkavel Subramaniya Swamy Koil Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Chellappa Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,500 per sq.ft, the total guideline value amounts to Rs 65,00,000. The stamp duty at 7% would be Rs 4,55,000, and the registration fee at 2% would be Rs 1,30,000, bringing the total cost for these fees to Rs 5,85,000. 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chellappa Mudali Street?

The Sub Registrar Office that covers Chellappa 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 is a crucial factor in the registration of property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and standardization in property dealings.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential components of the transaction process. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Chellappa Mudali Street?

The current guideline value of Chellappa Mudali Street is Rs 6,500 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 1,800 per sq.ft in 2007 to Rs 6,500 per sq.ft in 2024, marking an overall increase of 261%.

What are the other streets in Purasaivakkam with their guideline values?

Other streets in Purasaivakkam include Chellappa Gramani Street at Rs 5,500 per sq.ft, Chennai Kesava Perumal Koil Street at Rs 4,900 per sq.ft, and several others listed above.

How is stamp duty calculated for properties on Chellappa Mudali Street?

Stamp duty for properties on Chellappa Mudali Street is calculated at 7% of the guideline value, while the registration fee is charged at 2%. These fees are based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Chellappa Mudali Street?

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