Guideline Value for MELPATTI PONNAPPA MUDALI STREET

Melpatti Ponnappa Mudali Street guideline value

The current guideline value of Melpatti Ponnappa Mudali Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Commercial Special Type - II.

How the guideline value of Melpatti Ponnappa Mudali Street has changed

The guideline value for Melpatti Ponnappa Mudali Street has seen significant changes over the years. In 2002, the value was Rs 642 per sq.ft, which increased to Rs 1,410 per sq.ft in 2003, marking a 120% increase. The value remained the same in 2007, at Rs 1,410 per sq.ft, before jumping to Rs 6,500 per sq.ft in 2012, reflecting a remarkable 361% increase. The most recent revision in 2024 set the value at Rs 7,100 per sq.ft, which is a 9% increase from the 2012 figure.

It is important to note that there are no figures available for the revisions in 2017 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1006%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Melpatti Ponnappa Mudali Street's current value above that median.

• Meenakshi Street: Rs 6,000 per sq.ft (2024)
• Mayor Krishnamurthy Street: Rs 2,200 per sq.ft (2024)
• Mathiyazhagan Street: Rs 2,700 per sq.ft (2024)
• M.G.R Nagar 1st Cross Street: Rs 1,600 per sq.ft (2024)
• M.G.R Nagar 1st Link (Inaippu) Road: Rs 1,600 per sq.ft (2024)
• M.G.R. Nagar 1st Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Melpatti Ponnappa Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total cost for these fees to Rs 6,39,000. 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 to estimate your costs.

Which Sub Registrar Office covers Melpatti Ponnappa Mudali Street?

The Sub Registrar Office that covers Melpatti Ponnappa Mudali Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate fees based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Melpatti Ponnappa Mudali Street?

The current guideline value of Melpatti Ponnappa Mudali Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 642 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 1006% over the years.

What is the land classification of Melpatti Ponnappa Mudali Street?

Melpatti Ponnappa Mudali Street is classified as Commercial Special Type - II.

Where is the Sub Registrar Office for Melpatti Ponnappa Mudali Street located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What are the stamp duty and registration fees for property transactions in this area?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would be Rs 6,39,000.