Guideline Value for Kandappa Mudali street

Kandappa Mudali street guideline value

The current guideline value of Kandappa Mudali street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kandappa Mudali street has changed

The guideline value for Kandappa Mudali street has undergone several revisions over the years. In 2007, the value was set at Rs 1,200 per sq.ft, which increased to Rs 5,500 per sq.ft in 2012. However, this figure dropped to Rs 3,685 per sq.ft in 2017. The 2023 revision raised the value to Rs 5,500 per sq.ft, and the most recent revision in 2024 has increased it further to Rs 6,000 per sq.ft. The register has no figures for the years 2002 and 2003.

In terms of percentage changes, the value increased by 358% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. The jump from 2023 to 2024 is 9%. Overall, the guideline value has increased by 400% from 2007 to 2024.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO, with guideline values ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median guideline value for the village is Rs 4,800 per sq.ft, placing Kandappa Mudali street's 2024 figure above this median.

• Kandappa Lane: Rs 4,800 per sq.ft (2024)
• Kandappa street: Rs 6,000 per sq.ft (2024)
• Kanagarajan Mudaliar Thottam: Rs 2,700 per sq.ft (2024)
• Kannappan Thidal: Rs 6,000 per sq.ft (2024)
• Karinmedu Gandhi Nagar (Grey Nagar Pallam): Rs 2,700 per sq.ft (2024)
• Karpaga Mudali Street: Rs 6,000 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 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, making the total Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kandappa Mudali street?

Kandappa Mudali street falls under the Periamet Sub Registrar Office located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Vepery. It serves as a benchmark for determining the stamp duty and registration fees that must be paid by the buyer at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in real estate dealings. It is essential for buyers and sellers to be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Kandappa Mudali street?

The current guideline value of Kandappa Mudali street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 1,200 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, marking an overall increase of 400%.

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

Other streets in Vepery include Kandappa Lane at Rs 4,800 per sq.ft, Kandappa street at Rs 6,000 per sq.ft, and Kannappan Thidal at Rs 6,000 per sq.ft, among others.

Where is the Periamet Sub Registrar Office located?

The Periamet Sub Registrar Office is located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Kandappa Mudali street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 60,00,000 would incur a stamp duty of Rs 4,20,000 at a rate of 7%.