Guideline Value for DEVARAJULU MUDALI STREET

Devarajulu Mudali Street guideline value

The current guideline value of Devarajulu Mudali Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Devarajulu Mudali Street has changed

Over the years, the guideline value of Devarajulu Mudali Street has seen significant changes. In the 2007 revision, the value was Rs 1,100 per sq.ft, which increased dramatically to Rs 5,000 per sq.ft in 2012, marking a rise of 355%. However, in the 2017 revision, the value decreased to Rs 3,350 per sq.ft, a drop of 33%. The value then rose again to Rs 5,000 per sq.ft in 2023, and further increased to the current Rs 5,500 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has risen by 400%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft, with the median value being Rs 5,500 per sq.ft. Devarajulu Mudali Street's 2024 guideline value aligns with this median.

• Devi Bhavani Ellaiamman Koil Street: Rs 4,900 per sq.ft (2024)
• Demellows Road (Anjaneyar Koil Street Main Road To Gantz Road): Rs 7,700 per sq.ft (2024)
• Davidpuram: Rs 4,400 per sq.ft (2024)
• Darga Road: Rs 3,300 per sq.ft (2024)
• Damodaran Lane: Rs 6,500 per sq.ft (2024)
• Damodara Mudali Street: Rs 6,500 per sq.ft (2024)

Stamp duty and registration fee for property in Devarajulu Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making a total of Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Devarajulu Mudali Street?

The Sub Registrar Office that covers Devarajulu Mudali 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 Purasaivakkam

The guideline value is a crucial factor during property registration in Purasaivakkam. It determines the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps to establish a clear and standardized pricing structure. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during transactions.

Frequently asked questions

What is the current guideline value of Devarajulu Mudali Street?

The current guideline value of Devarajulu Mudali Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,100 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, which is a total increase of 400% over the years.

What is the land classification for Devarajulu Mudali Street?

Devarajulu Mudali Street is classified as Residential Class III Type - I, indicating its suitability for residential development.

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

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

How is stamp duty calculated for properties in Purasaivakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at a rate of 7%.