Guideline Value for Lawyer Chinna Thambi Mudali Street

Lawyer Chinna Thambi Mudali Street guideline value

The current guideline value of Lawyer Chinna Thambi 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 Lawyer Chinna Thambi Mudali Street has changed

The guideline value for this street has seen several revisions over the years. The earliest recorded figure is from 2003, where it was Rs 920 per sq.ft. This increased to Rs 1,200 per sq.ft in 2007, followed by a significant jump to Rs 4,000 per sq.ft in 2012. However, in 2017, the value dropped to Rs 2,680 per sq.ft. The 2023 revision marked a rise to Rs 4,000 per sq.ft, and the current revision in 2024 has set it at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 378%. 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 2024 guideline value, ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the current guideline value of Lawyer Chinna Thambi Mudali Street.

• Lendriyan Devidson Street: Rs 6,000 per sq.ft (2024)
• Mabuskhan Garden Street: Rs 4,900 per sq.ft (2024)
• Madura Vasal Lane: Rs 4,400 per sq.ft (2024)
• Madura Vasal Street: Rs 4,400 per sq.ft (2024)
• Lakkumudas Street: Rs 8,800 per sq.ft (2024)
• Lakkumudas Lane: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Lawyer Chinna Thambi 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 amounts to 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, bringing the total fees to Rs 3,96,000. It's important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Lawyer Chinna Thambi Mudali Street?

The Sub Registrar Office that covers Lawyer Chinna Thambi 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 in the registration process 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 appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property, facilitating a smoother transaction process. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Lawyer Chinna Thambi Mudali Street?

The current guideline value of Lawyer Chinna Thambi 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 920 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, with various increases and decreases in between. The most notable increase was from Rs 2,680 per sq.ft in 2017 to Rs 4,000 per sq.ft in 2023.

What is the registration office for Lawyer Chinna Thambi Mudali Street?

The registration office for Lawyer Chinna Thambi Mudali Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01.

How is stamp duty calculated for properties in Muthiyalpet?

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

What is the median guideline value in Muthiyalpet?

The median guideline value in Muthiyalpet is Rs 4,400 per sq.ft, which is the same as the current guideline value for Lawyer Chinna Thambi Mudali Street.