Guideline Value for MURUGAPPA MUDALI STREET

Murugappa Mudali Street guideline value

The current guideline value of Murugappa Mudali Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - II.

How the guideline value of Murugappa Mudali Street has changed

The guideline value of Murugappa Mudali Street has seen several revisions over the years. In 2002, the value was Rs 699 per sq.ft, which increased to Rs 777 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 4,500 per sq.ft in 2012, representing a substantial increase of 479% from the previous revision. However, it decreased to Rs 3,015 per sq.ft in 2017, a drop of 33%. The value then increased again to Rs 4,500 per sq.ft in 2023, and finally, it reached the current figure of Rs 4,900 per sq.ft in 2024, reflecting a 9% increase from the previous year.

It is important to note that there is no figure for Murugappa Mudali Street in the 2007 revision. Overall, from 2002 to 2024, the guideline value has increased by 601%.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft as of 2024. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Murugappa Mudali Street's 2024 figure below that median.

• Musthura Begum 2nd Street: Rs 8,800 per sq.ft (2024)
• Musthura Begum Street (Pettai): Rs 8,800 per sq.ft (2024)
• Musuri Subramaniyam Road (Oliver Road): Rs 16,500 per sq.ft (2024)
• Munusamy Street: Rs 3,300 per sq.ft (2024)
• Munusamy Nagar: Rs 3,300 per sq.ft (2024)
• Mundakkanni Amman Koil Street: Rs 12,100 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 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, bringing the total cost to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Murugappa Mudali Street?

The Sub Registrar Office that covers Murugappa Mudali Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Mylapore. It serves as a benchmark for calculating the stamp duty and registration fees that must be paid when a property is bought or sold.

When you register a property, the guideline value is considered to ensure that the transaction is recorded at a fair value. This helps maintain transparency and accountability in property dealings within the region.

Frequently asked questions

What is the current guideline value of Murugappa Mudali Street?

The current guideline value of Murugappa 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 699 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 601% over this period.

What is the stamp duty for property on Murugappa Mudali Street?

The stamp duty for property on Murugappa Mudali Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Murugappa Mudali Street?

The Sub Registrar Office for Murugappa Mudali Street is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the land classification of Murugappa Mudali Street?

Murugappa Mudali Street is classified as Residential Class V Type - II under the Mylapore SRO.