Guideline Value for MUTHU MUDALI STREET

Muthu Mudali Street guideline value

The current guideline value of Muthu Mudali Street is Rs 4,400 per sq.ft. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Muthu Mudali Street has changed

The guideline value for Muthu Mudali Street has seen significant changes over the years. In 2002, the value was Rs 420 per sq.ft, which increased to Rs 461 per sq.ft in 2003, marking a 10% rise. Following this, the value surged to Rs 1,000 per sq.ft in 2007, representing a 117% increase. In 2012, the value dropped to Rs 4,000 per sq.ft, a decrease of 300%. The value then increased again to Rs 2,680 per sq.ft in 2017, which was a 49% rise. The most recent revision in 2023 set the value at Rs 4,000 per sq.ft, and the current guideline value effective from 1 July 2024 is Rs 4,400 per sq.ft, reflecting a 10% increase.

There are no figures available for the guideline value of Muthu Mudali Street for the years not mentioned in the revisions. Overall, from 2002 to 2024, the guideline value has increased by 948%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Muthu Mudali Street's 2024 figure above this median.

• Muthu Mariamman Koil Street: Rs 1,600 per sq.ft (2024)
• Muthu Kumaraswamy Street: Rs 3,200 per sq.ft (2024)
• Nacharammal Lane: Rs 3,200 per sq.ft (2024)
• Nacharammal Street: Rs 3,200 per sq.ft (2024)
• Muthamizh Street: Rs 2,200 per sq.ft (2024)
• Nagammaiyar Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Muthu Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to 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 Muthu Mudali Street?

The Sub Registrar Office that covers Muthu 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 Perambur

The guideline value plays a crucial role in the registration process when buying or selling property in Perambur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. The guideline value is set by the government and reflects the minimum value at which properties in a particular area can be registered.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, regardless of the actual sale price.

Frequently asked questions

What is the current guideline value of Muthu Mudali Street?

The current guideline value of Muthu Mudali Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 420 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 948%.

What is the land classification for Muthu Mudali Street?

Muthu Mudali Street is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

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

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

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

Stamp duty for properties in Muthu Mudali Street is calculated based on the higher of the guideline value or the sale price. The current rate for stamp duty is 7%, while the registration fee is 2% of the guideline value.