Guideline Value for CHINNAYYA MUDALI 1ST CROSS STREET

Chinnayya Mudali 1st Cross Street guideline value

The current guideline value of Chinnayya Mudali 1st Cross Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class I Type - II.

How the guideline value of Chinnayya Mudali 1st Cross Street has changed

The guideline value for Chinnayya Mudali 1st Cross Street has seen several revisions over the years. In 2003, the guideline value was Rs 550 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007. Following this, the value rose significantly to Rs 4,500 per sq.ft in 2012, but then dropped to Rs 3,015 per sq.ft in 2017. The value increased again to Rs 4,500 per sq.ft in 2023, and as of 2024, it stands at Rs 4,900 per sq.ft. The register has no figure for this street in 2002.

From 2017 to 2023, there was a notable increase of 49%, while the value jumped by 9% from 2023 to 2024. The most significant change occurred from 2007 to 2012, with a rise of 350%. Overall, from 2003 to 2024, the guideline value has increased by 791%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Chinnayya Mudali 1st Cross Street's 2024 figure above that median.

• Chinnayya Mudali 2nd Cross Street: Rs 4,900 per sq.ft (2024)
• Chinnayya Mudali 3rd Cross Street: Rs 4,900 per sq.ft (2024)
• Chinnayya Mudali 4th Cross Street: Rs 4,900 per sq.ft (2024)
• Chinnayya Mudali Colony: Rs 4,900 per sq.ft (2024)
• Chinnayya New Colony 1st Main Road: Rs 4,900 per sq.ft (2024)
• Chinnayya New Colony 1st Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Chinnayya Mudali 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, while the registration fee at 2% would be Rs 98,000, resulting in a total of Rs 4,41,000. 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 specific calculations.

Which Sub Registrar Office covers Chinnayya Mudali 1st Cross Street?

The Sub Registrar Office that covers Chinnayya Mudali 1st Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration process of property transactions in Perambur. 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 higher value between the guideline value and the sale price is considered for calculating the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Chinnayya Mudali 1st Cross Street?

The current guideline value of Chinnayya Mudali 1st Cross Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 550 per sq.ft in 2003 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 791% over the years.

What is the land classification of Chinnayya Mudali 1st Cross Street?

Chinnayya Mudali 1st Cross Street is classified as Residential Class I Type - II.

Where can I find the Purasaivakkam Sub Registrar Office?

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

How is the stamp duty calculated for properties in Chinnayya Mudali 1st Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 at a rate of 7%.