Guideline Value for General Muthiah Mudali Street

General Muthiah Mudali Street guideline value

The current guideline value of General Muthiah 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, classified as Residential Class I Type - I.

How the guideline value of General Muthiah Mudali Street has changed

The guideline value for General Muthiah Mudali Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 1,200 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a 233% rise. However, it then decreased to Rs 2,680 per sq.ft in 2017, a decline of 33%. The value saw a substantial increase to Rs 4,000 per sq.ft in 2023, followed by a further increase to Rs 4,400 per sq.ft in 2024, reflecting a 10% change.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 267%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO with a 2024 guideline value range from Rs 3,800 to Rs 16,500 per sq.ft. The median value is Rs 4,400 per sq.ft, which aligns with the current guideline value of General Muthiah Mudali Street.

• Genguraman Street: Rs 4,400 per sq.ft (2024)
• George Chappel Street: Rs 4,900 per sq.ft (2024)
• G.H. Road: Rs 6,000 per sq.ft (2024)
• Girikori Street: Rs 4,900 per sq.ft (2024)
• Godown Street: Rs 8,800 per sq.ft (2024)
• Govindappa Naicken Street Segment-1 (NSC - Annapillai Street): Rs 13,000 per sq.ft (2024)

Stamp duty and registration fee for property in General Muthiah 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, totaling 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.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers General Muthiah Mudali Street?

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

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

The guideline value is a crucial factor in property transactions in Muthiyalpet, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating property prices to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate stamp duty and registration fees, which are mandatory costs associated with property transactions. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of General Muthiah Mudali Street?

The current guideline value of General Muthiah 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 significantly from Rs 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 267% over this period.

What is the median guideline value in Muthiyalpet?

The median guideline value in Muthiyalpet for 2024 is Rs 4,400 per sq.ft, which is the same as the guideline value for General Muthiah Mudali Street.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office should I contact for property registration in this area?

The Sowcarpet Sub Registrar Office at No.11, Davidson Street, Sowcarpet, Chennai-01, is responsible for property registration in this area.