Guideline Value for Chengalvarayan Mudali Street

Chengalvarayan Mudali Street guideline value

The current guideline value of Chengalvarayan Mudali Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Residential Class I Type - I.

How the guideline value of Chengalvarayan Mudali Street has changed

The guideline value for Chengalvarayan Mudali Street has undergone several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 1,145 per sq.ft. This figure saw a significant increase to Rs 6,000 per sq.ft in both the 2012 and 2023 revisions, indicating no change during that period. However, from 2023 to 2024, the guideline value rose by 10% to the current figure of Rs 6,600 per sq.ft.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 476%. It is important to note that there are no figures available for the years 2002, 2003, and 2017 in the register for this street.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value in this area is Rs 6,600 per sq.ft, which is equal to the current value of Chengalvarayan Mudali Street.

• Chella Pillaiyar Koil Street: Rs 7,700 per sq.ft (2024)
• Chella Pillaiyar Koil 3rd Street / Lane: Rs 6,600 per sq.ft (2024)
• Chella Pillaiyar Koil 2nd Street / Lane: Rs 6,600 per sq.ft (2024)
• Chella Pillaiyar Koil 1st Street / Lane: Rs 6,600 per sq.ft (2024)
• Chinnappa Rawther Street: Rs 6,600 per sq.ft (2024)
• Chinnathambi Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Chengalvarayan Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000. Together, these fees would total Rs 5,94,000. It is important to note that 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 Chengalvarayan Mudali Street?

The Chengalvarayan Mudali Street is covered by the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Chengalvarayan Mudali Street?

The current guideline value of Chengalvarayan Mudali Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,145 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 476% over the years.

Which Sub Registrar Office covers this street?

The Triplicane Sub Registrar Office covers Chengalvarayan Mudali Street, located at No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai-600014.

What is the stamp duty rate for properties in this area?

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

Are there other streets in Triplicane with the same guideline value?

Yes, there are several other streets in Triplicane with a guideline value of Rs 6,600 per sq.ft, including Chella Pillaiyar Koil 3rd Street / Lane, Chella Pillaiyar Koil 2nd Street / Lane, Chella Pillaiyar Koil 1st Street / Lane, Chinnappa Rawther Street, and Chinnathambi Street.