Guideline Value for Chinna Mudali Street

Chinna Mudali Street guideline value

The current guideline value of Chinna Mudali Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Parangimalai village under the Chennai South Joint II SRO and falls under the Residential Class II Type - II land classification.

How the guideline value of Chinna Mudali Street has changed

Over the years, the guideline value of Chinna Mudali Street has seen significant changes. The 2002 revision recorded a value of Rs 232 per sq.ft, which increased to Rs 320 per sq.ft in 2003. Following this, the value rose to Rs 800 per sq.ft in 2007, then jumped to Rs 3,000 per sq.ft in 2012. However, the value decreased to Rs 2,010 per sq.ft in 2017 before climbing again to Rs 3,000 per sq.ft in 2023. The most recent revision in 2024 has set the value at Rs 3,300 per sq.ft.

The changes between revisions show a clear trajectory. From 2002 to 2024, the overall increase is +1322%. Notably, the value rose by +10% from 2023 to 2024, while there was a substantial increase of +49% from 2017 to 2023. The value decreased by -33% from 2012 to 2017, and there was a remarkable increase of +275% from 2007 to 2012. Other notable increases include +150% from 2003 to 2007 and +38% from 2002 to 2003.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median value for the area is Rs 3,850 per sq.ft, placing Chinna Mudali Street's 2024 figure below this median.

• Chittibabu Street: Rs 3,300 per sq.ft (2024)
• Chittibabu Street (Kalaignar Nagar): Rs 3,300 per sq.ft (2024)
• Chakkrapani Colony: Rs 3,850 per sq.ft (2024)
• Contonment Lane: Rs 3,850 per sq.ft (2024)
• Cementary Road: Rs 5,500 per sq.ft (2024)
• DAD Quarters: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Chinna Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that 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 details.

Which Sub Registrar Office covers Chinna Mudali Street?

The Sub Registrar Office that covers Chinna Mudali Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Parangimalai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state collects appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs involved in the transaction. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, making it essential to understand the current guideline value in the area.

Frequently asked questions

What is the current guideline value of Chinna Mudali Street?

The current guideline value of Chinna Mudali Street is Rs 3,300 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 232 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +1322% over the years.

What is the median guideline value in Parangimalai?

The median guideline value in Parangimalai is Rs 3,850 per sq.ft, which is higher than the current value of Chinna Mudali Street.

What are the stamp duty and registration fees for properties in Chinna Mudali Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

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

The Sub Registrar Office for Chinna Mudali Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.