Guideline Value for MUTHU KRISHNA MUDALI STREET

Muthu Krishna Mudali Street guideline value

The current guideline value of Muthu Krishna 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 Muthu Krishna Mudali Street has changed

The guideline value for Muthu Krishna Mudali Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 872 per sq.ft, which increased to Rs 969 per sq.ft in 2003, marking an 11% rise. The value then saw a significant increase to Rs 1,540 per sq.ft in 2007, representing a 59% increase.

In the subsequent revisions, the value reached Rs 8,000 per sq.ft in 2012, a substantial increase of 419% from the previous figure. However, it then dropped by 33% to Rs 5,360 per sq.ft in 2017. The most recent revision in 2024 has set the guideline value at Rs 8,800 per sq.ft, reflecting a 64% increase from the 2017 figure. The register has no figure for the year 2023 for this street.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value is Rs 8,800 per sq.ft, which is equal to the current value of Muthu Krishna Mudali Street.

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

Stamp duty and registration fee for property in Muthu Krishna 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, totaling Rs 7,92,000. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Muthu Krishna Mudali Street?

The Sub Registrar Office that covers Muthu Krishna 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 in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Muthu Krishna Mudali Street?

The current guideline value of Muthu Krishna 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 changed significantly from Rs 872 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 909% over the years.

What is the land classification for Muthu Krishna Mudali Street?

Muthu Krishna Mudali Street is classified as Residential Class III Type - III, which indicates its designation for residential use.

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

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

How is the stamp duty calculated for properties in Muthu Krishna Mudali Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 at 7% of the guideline value.