Guideline Value for Kumarappa Mudali Street

Kumarappa Mudali Street guideline value

The current guideline value of Kumarappa Mudali Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village, under the Sowcarpet Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - III.

How the guideline value of Kumarappa Mudali Street has changed

The guideline value for Kumarappa Mudali Street has undergone several revisions over the years. In 2003, the guideline value was Rs 1,100 per sq.ft. This value increased to Rs 1,600 per sq.ft in 2007, marking a significant rise of 45%. Following this, the value saw a substantial increase of 181%, reaching Rs 4,500 per sq.ft in 2012. However, in 2017, it dropped to Rs 3,015 per sq.ft, reflecting a decrease of 33%. The value then rose to Rs 4,500 per sq.ft in 2023, before reaching the current figure of Rs 4,900 per sq.ft in 2024, an increase of 9%.

It is important to note that the register has no figure for Kumarappa Mudali Street for the year 2002. Overall, from 2003 to 2024, the guideline value has increased by 345%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 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 in this area is Rs 4,400 per sq.ft, placing Kumarappa Mudali Street's 2024 figure above that median.

• Kumarappa Maistry Street: Rs 6,000 per sq.ft (2024)
• Kuppaiyer Street: Rs 4,400 per sq.ft (2024)
• Kutti Maistry Street: Rs 4,400 per sq.ft (2024)
• Kulandhai Street: Rs 6,000 per sq.ft (2024)
• Lakkumudas Lane: Rs 8,800 per sq.ft (2024)
• Lakkumudas Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kumarappa 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 would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, making the total fees Rs 4,41,000. It is important to note that the 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 Kumarappa Mudali Street?

The Sub Registrar Office that covers Kumarappa Mudali Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, Chennai registration zone. 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 during property registration in Muthiyalpet. It determines the minimum value at which a property can be sold and is used to calculate stamp duty and registration fees. Buyers and sellers must be aware of this value to ensure compliance with legal requirements during transactions.

When engaging in property transactions, it is essential to refer to the current guideline value to avoid any discrepancies. This value serves as a benchmark for both buyers and sellers, ensuring that the property is neither undervalued nor overvalued in the eyes of the law.

Frequently asked questions

What is the current guideline value of Kumarappa Mudali Street?

The current guideline value of Kumarappa 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 changed from Rs 1,100 per sq.ft in 2003 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 345% over the years.

What is the land classification for Kumarappa Mudali Street?

The land classification for Kumarappa Mudali Street is Residential Special Type - III.

What are the stamp duty rates for properties in this area?

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

Where is the Sowcarpet Sub Registrar Office located?

The Sowcarpet Sub Registrar Office is located at No.11, Davidson Street, Sowcarpet, Chennai-01, Chennai registration zone.