Guideline Value for Devaraja Mudali Street

Devaraja Mudali Street guideline value

The current guideline value of Devaraja Mudali Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village, under the Sowcarpet SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Devaraja Mudali Street has changed

The guideline value for Devaraja Mudali Street has seen several revisions over the years. In 2003, the value was Rs 2,734 per sq.ft, which increased to Rs 3,000 per sq.ft in 2007, marking a 10% rise. The value then surged to Rs 8,000 per sq.ft in 2012, reflecting a significant increase of 167%. However, it decreased to Rs 5,360 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 8,000 per sq.ft in 2023, and finally reached Rs 8,800 per sq.ft in 2024, representing a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 222%. The register has no figure for the year 2002 for this street.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that have a 2024 guideline value, ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, placing Devaraja Mudali Street's 2024 figure above this median.

• Davidson Street: Rs 6,000 per sq.ft (2024)
• Dharmaraja Kovil 1st Lane: Rs 4,400 per sq.ft (2024)
• Dharmaraja Kovil 2nd Lane: Rs 4,400 per sq.ft (2024)
• Dharmaraja Kovil Street: Rs 4,400 per sq.ft (2024)
• Chinna Thambi Street: Rs 6,000 per sq.ft (2024)
• Chinna Neikaran Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Devaraja Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, making the total Rs 7,92,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Devaraja Mudali Street?

Devaraja Mudali Street is covered by 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 a crucial factor when registering property transactions in Muthiyalpet. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers to be aware of this value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Devaraja Mudali Street?

The current guideline value of Devaraja Mudali Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,734 per sq.ft in 2003 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 222% over this period.

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

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

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

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

What is the median guideline value in Muthiyalpet?

The median guideline value in Muthiyalpet is Rs 4,400 per sq.ft, with Devaraja Mudali Street's 2024 figure of Rs 8,800 per sq.ft being above this median.