Guideline Value for Kancheepuram Sabapathi Mudali Street

Kancheepuram Sabapathi Mudali Street guideline value

The current guideline value of Kancheepuram Sabapathi Mudali Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, classified as Residential Special Type - III.

How the guideline value of Kancheepuram Sabapathi Mudali Street has changed

In the 2003 revision, the guideline value was Rs 1,106 per sq.ft, which increased to Rs 1,600 per sq.ft in 2007, marking a rise of 45%. The value then saw a significant jump to Rs 4,500 per sq.ft in 2012, a change of 181%. However, it dropped to Rs 3,015 per sq.ft in 2017, a decrease of 33%. The 2023 revision set the value at Rs 4,500 per sq.ft, which was a 49% increase from 2017.

The most recent 2024 revision has established the guideline value at Rs 4,900 per sq.ft, reflecting a 9% increase from the previous year. 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 carry a guideline value for 2024, ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing Kancheepuram Sabapathi Mudali Street above this median.

• Kanda Murthy Ayappan Street: Rs 4,900 per sq.ft (2024)
• Kandappa Chetty Street: Rs 6,000 per sq.ft (2024)
• Kandappa Mudali Street: Rs 4,400 per sq.ft (2024)
• Kandappan Street: Rs 6,000 per sq.ft (2024)
• Kanniah Naidu Street: Rs 5,500 per sq.ft (2024)
• Karupannan Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kancheepuram Sabapathi Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, making the total cost for these fees Rs 4,41,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kancheepuram Sabapathi Mudali Street?

The Kancheepuram Sabapathi Mudali Street falls under the jurisdiction of the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Muthiyalpet. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling a property, the guideline value helps both parties understand the fair value of the property. It is essential to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kancheepuram Sabapathi Mudali Street?

The current guideline value of Kancheepuram Sabapathi Mudali Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 1,106 per sq.ft in 2003 to Rs 4,900 per sq.ft in 2024, which is an overall increase of 343%.

What is the median guideline value in Muthiyalpet?

The median guideline value in Muthiyalpet is Rs 4,400 per sq.ft, with Kancheepuram Sabapathi Mudali Street's value being above this median.

What fees are involved in property registration?

When registering a property, buyers must pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Kancheepuram Sabapathi Mudali Street is located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find more details online.