Guideline Value for MURUGESA MUDALI STREET

Murugesa Mudali Street guideline value

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

How the guideline value of Murugesa Mudali Street has changed

Over the years, the guideline value of Murugesa Mudali Street has seen several revisions. 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. However, there was a decrease in the value to Rs 4,020 per sq.ft in 2017. The 2023 revision then raised it to Rs 6,000 per sq.ft, followed by the current 2024 revision which has set the value at Rs 6,500 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

In terms of percentage changes, the guideline value increased by 233% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects an increase of 8%. Overall, from 2007 to 2024, the guideline value has increased by 261%.

Guideline values in Purasaivakkam

In Purasaivakkam village, 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, with a median value of Rs 5,500 per sq.ft. Murugesa Mudali Street's 2024 guideline value of Rs 6,500 per sq.ft is above this median.

• Murugappa 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 Murugesa 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, while the registration fee at 2% would be Rs 1,30,000. Together, these fees would total Rs 5,85,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Murugesa Mudali Street?

The Sub Registrar Office that covers Murugesa 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 is a crucial factor when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware of the current guideline value to ensure they are prepared for the associated costs.

When a property is registered, the guideline value is used to calculate the applicable duties and fees. It is essential for both parties in a transaction to understand that the guideline value can significantly impact the overall expenses involved in the property transfer process.

Frequently asked questions

What is the current guideline value of Murugesa Mudali Street?

The current guideline value of Murugesa 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 from Rs 1,800 per sq.ft in 2007 to Rs 6,500 per sq.ft in 2024, reflecting an overall increase of 261% over this period.

What are the stamp duty rates for property in Murugesa Mudali Street?

The stamp duty for property transactions in Murugesa Mudali Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Murugesa Mudali Street located?

The Sub Registrar Office covering Murugesa Mudali Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the median guideline value for streets in Purasaivakkam?

The median guideline value for streets in Purasaivakkam is Rs 5,500 per sq.ft, with Murugesa Mudali Street's value being above this median at Rs 6,500 per sq.ft.