Guideline Value for Chandirappa Mudali Street

Chandirappa Mudali Street guideline value

The current guideline value of Chandirappa Mudali Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village, under the Sowcarpet SRO, and is classified as Residential Class I Type - I.

How the guideline value of Chandirappa Mudali Street has changed

The guideline value for Chandirappa Mudali Street has undergone several revisions over the years. In 2003, the guideline value was Rs 936 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007, marking a change of +28%. The value then saw a significant rise to Rs 4,000 per sq.ft in 2012, reflecting an increase of +233%. However, it dropped to Rs 2,680 per sq.ft in 2017, a decrease of -33%. The guideline value then increased to Rs 4,000 per sq.ft in 2023, followed by a further rise to Rs 4,400 per sq.ft in 2024, which is a change of +10%.

Notably, there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by +370%.

Guideline values in Muthiyalpet

Muthiyalpet village has a total of 357 streets under the Sowcarpet SRO that have a guideline value for 2024, ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which aligns with the current guideline value of Chandirappa Mudali Street.

• Bunder Street (Murugappan Street): Rs 8,800 per sq.ft (2024)
• Bunder Ramanaicken Model ‘A’ To ‘I’: Rs 6,000 per sq.ft (2024)
• Bunder Ramanaicken Garden Broadway Part: Rs 4,400 per sq.ft (2024)
• Budha Sahib Street: Rs 4,400 per sq.ft (2024)
• China Bazar Road: Rs 13,000 per sq.ft (2024)
• Broadway: Rs 16,500 per sq.ft (2024)

Stamp duty and registration fee for property in Chandirappa Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. It is important to note that the 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 more details.

Which Sub Registrar Office covers Chandirappa Mudali Street?

The Sub Registrar Office that covers Chandirappa Mudali Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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

The guideline value is used as a reference point for property transactions in Muthiyalpet. When buying or selling property, this value helps determine the stamp duty and registration fees applicable to the transaction.

It is essential to be aware that the guideline value may differ from the actual sale price of the property. Therefore, the duty is charged based on the higher of the two values, ensuring that the appropriate fees are collected during the registration process.

Frequently asked questions

What is the current guideline value of Chandirappa Mudali Street?

The current guideline value of Chandirappa Mudali Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 936 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +370% over this period.

What is the stamp duty rate for properties in Chandirappa Mudali Street?

The stamp duty rate for properties in Chandirappa Mudali Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sowcarpet Sub Registrar Office located?

The Sowcarpet Sub Registrar Office is located at No.11, Davidson Street, Sowcarpet, Chennai-01.

What is the median guideline value for streets in Muthiyalpet?

The median guideline value for streets in Muthiyalpet is Rs 4,400 per sq.ft, which is the same as the current guideline value for Chandirappa Mudali Street.