Guideline Value for MUTHIAH MUDALI STREET

Muthiah Mudali Street guideline value

The current guideline value of Muthiah Mudali Street is Rs 8,800 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 III Type - III.

How the guideline value of Muthiah Mudali Street has changed

The guideline value for Muthiah Mudali Street has undergone several revisions over the years. The earliest recorded value in 2002 was Rs 612 per sq.ft. This increased to Rs 680 per sq.ft in 2003, marking a change of +11%. The value saw significant growth to Rs 1,540 per sq.ft in 2007, which was a +126% increase. Following this, the value surged to Rs 8,000 per sq.ft in 2012, reflecting a remarkable +419% change. However, it decreased to Rs 5,360 per sq.ft in 2017, showing a decline of -33%. The value then rose to Rs 8,000 per sq.ft in 2023, before reaching the current figure of Rs 8,800 per sq.ft in 2024, which is a +10% increase.

Throughout these revisions, the guideline value has shown an overall increase of +1338% from 2002 to 2024. Notably, there are no recorded figures for Muthiah Mudali Street for the years not listed in this summary.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a guideline value for 2024, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value is Rs 8,800 per sq.ft, which is equal to the current guideline value of Muthiah Mudali Street.

• Muthiah Street: Rs 8,800 per sq.ft (2024)
• Muthiah Thottam 1st Street: Rs 3,300 per sq.ft (2024)
• Muthiah Thottam 2nd Street: Rs 3,300 per sq.ft (2024)
• Muthiah Thotta Street: Rs 3,300 per sq.ft (2024)
• Muthu Kiramani Street: Rs 8,800 per sq.ft (2024)
• Muthu Krishna Mudali Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Muthiah Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, resulting in a total of Rs 7,92,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Muthiah Mudali Street?

The Muthiah Mudali Street falls under the jurisdiction of the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property registration in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property. Buyers and sellers must be aware of the guideline value to ensure compliance with the registration process.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Muthiah Mudali Street?

The current guideline value of Muthiah Mudali Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 612 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, showing an overall increase of +1338% over this period.

What is the land classification for Muthiah Mudali Street?

Muthiah Mudali Street is classified as Residential Class III Type - III.

What are the stamp duty and registration fees for a property in Muthiah Mudali Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 88,00,000, leading to a stamp duty of Rs 6,16,000 and a registration fee of Rs 1,76,000, totaling Rs 7,92,000.

Which office handles the registration for Muthiah Mudali Street?

The registration for Muthiah Mudali Street is handled by the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.