Guideline Value for CHINNAYYA MUDALI COLONY

Chinnayya Mudali Colony guideline value

The current guideline value of Chinnayya Mudali Colony is Rs 4,900 per sq.ft, effective from 1 July 2024. This colony is located in Perambur village under the Purasaivakkam SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Chinnayya Mudali Colony has changed

The guideline value for Chinnayya Mudali Colony has seen several revisions over the years. In 2003, the guideline value was Rs 550 per sq.ft. This increased to Rs 1,000 per sq.ft in 2007, marking an increase of 82%. The value then surged significantly to Rs 4,500 per sq.ft in 2012, representing a remarkable 350% increase. However, in 2017, the value decreased to Rs 3,015 per sq.ft, a drop of 33%. The most recent revision in 2024 set the guideline value at Rs 4,900 per sq.ft, which is a substantial increase of 63% from the 2017 figure. The register has no figure for the years 2023 and 2002 for this street.

Guideline values in Perambur

In Perambur village, there are 1114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Chinnayya Mudali Colony is above this median, indicating a higher valuation compared to many other streets in the area.

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

Stamp duty and registration fee for property in Chinnayya Mudali Colony

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, and the registration fee at 2% would be Rs 98,000, making the total cost for these fees Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chinnayya Mudali Colony?

The Sub Registrar Office that covers Chinnayya Mudali Colony 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 Perambur

The guideline value is a crucial figure used during the registration of property transactions in Perambur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum value at which a property can be registered. This ensures transparency and helps in maintaining a standardized valuation across different properties within the region.

Frequently asked questions

What is the current guideline value of Chinnayya Mudali Colony?

The current guideline value of Chinnayya Mudali Colony 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 significantly from Rs 550 per sq.ft in 2003 to Rs 4,900 per sq.ft in 2024, marking an overall increase of 791% over the years.

What is the land classification for Chinnayya Mudali Colony?

The land classification for Chinnayya Mudali Colony is Residential Class I Type - II, indicating its suitability for residential development.

Where is the Sub Registrar Office located?

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

How is stamp duty calculated in Chinnayya Mudali Colony?

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