Guideline Value for MURUGAPPA MUDALI STREET

Murugappa Mudali Street guideline value

The current guideline value of Murugappa Mudali Street is Rs 6,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, with a land classification of Residential Class II Type - II.

How the guideline value of Murugappa Mudali Street has changed

The guideline value for Murugappa Mudali Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012, marking a rise of 233%. However, the value decreased to Rs 4,020 per sq.ft in 2017, a drop of 33%. The value then rose sharply to Rs 6,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 has set the value at Rs 6,500 per sq.ft, an 8% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 261%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value in this area is Rs 5,500 per sq.ft, which means that Murugappa Mudali Street's 2024 figure is above this median.

• Murugesa Mudali Street: Rs 6,500 per sq.ft (2024)
• Muthiyalu Chetty Street: Rs 6,500 per sq.ft (2024)
• Muthiyalu Naicken Street: Rs 6,500 per sq.ft (2024)
• Muthu Gramani Street: Rs 6,500 per sq.ft (2024)
• Muthu Mudali Street: Rs 6,500 per sq.ft (2024)
• Muthu Naicken Street: Rs 6,500 per sq.ft (2024)

Stamp duty and registration fee for property in Murugappa Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,500 per sq.ft, the total guideline value would be Rs 65,00,000. The stamp duty at 7% would amount to Rs 4,55,000, and the registration fee at 2% would be Rs 1,30,000, bringing the total charges to Rs 5,85,000. Please 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 Murugappa Mudali Street?

The Sub Registrar Office that covers Murugappa 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 Purasaivakkam

The guideline value plays a crucial role in the registration process of property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value at which properties 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 applicable fees and taxes. Buyers should be aware that the stamp duty is charged based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Murugappa Mudali Street?

The current guideline value of Murugappa Mudali Street is Rs 6,500 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 1,800 per sq.ft in 2007 to Rs 6,500 per sq.ft in 2024, reflecting an overall increase of 261%.

What are the other streets with the same guideline value in Purasaivakkam?

Other streets in Purasaivakkam with the same guideline value of Rs 6,500 per sq.ft include Murugesa Mudali Street, Muthiyalu Chetty Street, Muthiyalu Naicken Street, Muthu Gramani Street, Muthu Mudali Street, and Muthu Naicken Street.

What is the registration fee for properties in Murugappa Mudali Street?

The registration fee for properties in Murugappa Mudali Street is calculated based on the guideline value. For example, for a property valued at Rs 65,00,000, the registration fee at 2% would be Rs 1,30,000.

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

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