Guideline Value for Kandappa Mudali Street

Kandappa Mudali Street guideline value

The current guideline value of Kandappa 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 Kandappa Mudali Street has changed

The guideline value for Kandappa Mudali Street has seen several revisions over the years. The 2003 revision recorded a guideline value of Rs 1,022 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007. The 2012 revision saw a rise to Rs 4,000 per sq.ft, but it then decreased to Rs 2,680 per sq.ft in 2017. Following this, the value increased significantly to Rs 4,000 per sq.ft in 2023, and finally, it rose to Rs 4,400 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 331%. The register has no figure for this street for the year 2002.

Guideline values in Muthiyalpet

Muthiyalpet village has a total of 357 streets under the Sowcarpet SRO that carry 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, which is equal to the 2024 figure for Kandappa Mudali Street.

• Kandappan Street: Rs 6,000 per sq.ft (2024)
• Kandappa Chetty Street: Rs 6,000 per sq.ft (2024)
• Kanda Murthy Ayappan Street: Rs 4,900 per sq.ft (2024)
• Kancheepuram Sabapathi Mudali Street: Rs 4,900 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 Kandappa 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 be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total cost 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.

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

Which Sub Registrar Office covers Kandappa Mudali Street?

The Sub Registrar Office that covers Kandappa Mudali Street is 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 during the registration of property transactions in Muthiyalpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. It is important for both buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value of Kandappa Mudali Street?

The current guideline value of Kandappa 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 1,022 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 331% over the years.

What are the other streets in Muthiyalpet with their guideline values?

Other streets in Muthiyalpet include Kandappan Street and Kandappa Chetty Street, both at Rs 6,000 per sq.ft, Kanda Murthy Ayappan Street and Kancheepuram Sabapathi Mudali Street at Rs 4,900 per sq.ft, and Kanniah Naidu Street at Rs 5,500 per sq.ft.

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

The Sowcarpet Sub Registrar Office covers Kandappa Mudali Street and is located at No.11, Davidson Street, Sowcarpet, Chennai-01.

How is the stamp duty calculated for properties in Kandappa Mudali Street?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at 7%.