Guideline Value for Mahadeva Mudali 1st Street

Mahadeva Mudali 1st Street guideline value

The current guideline value of Mahadeva Mudali 1st Street is Rs 3,500 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village and falls under the Sembiam SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Mahadeva Mudali 1st Street has changed

Over the years, the guideline value of Mahadeva Mudali 1st Street has seen significant changes. In 2007, the guideline value was Rs 800 per sq.ft, which increased dramatically to Rs 3,200 per sq.ft in 2012, marking a 300% rise. However, it then decreased to Rs 2,144 per sq.ft in 2017, reflecting a decline of 33%. The value rose again to Rs 3,200 per sq.ft in 2023, followed by a further increase to Rs 3,500 per sq.ft in 2024, representing a 9% increase.

From 2017 to 2023, the guideline value surged by 49%. Overall, from 2007 to 2024, the increase amounts to a remarkable 338%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Sembiam

Sembiam village has a total of 250 streets under the Sembiam SRO, with guideline values for 2024 ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, positioning Mahadeva Mudali 1st Street's 2024 figure above this median.

• Mahadeva Mudali 2nd Street: Rs 3,500 per sq.ft (2024)
• Mahadeva Mudali 3rd Street: Rs 3,500 per sq.ft (2024)
• Maduraisamy Main Road: Rs 3,500 per sq.ft (2024)
• Maduraisamy Madam V.O.C. Nagar: Rs 3,500 per sq.ft (2024)
• Maduraisamy Madam East Street: Rs 3,500 per sq.ft (2024)
• Maduraisamy Madam 3rd Street: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Mahadeva Mudali 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,500 per sq.ft, the total guideline value would be Rs 35,00,000. The stamp duty at 7% would amount to Rs 2,45,000, and the registration fee at 2% would be Rs 70,000, resulting in a total of Rs 3,15,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mahadeva Mudali 1st Street?

The Sub Registrar Office that covers Mahadeva Mudali 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Sembiam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is essential for buyers to be aware of the guideline value to ensure they are not overpaying for a property, while sellers can use it to set competitive prices.

Frequently asked questions

What is the current guideline value of Mahadeva Mudali 1st Street?

The current guideline value of Mahadeva Mudali 1st Street is Rs 3,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 3,500 per sq.ft in 2024, reflecting an overall increase of 338% over the years.

What is the land classification for Mahadeva Mudali 1st Street?

Mahadeva Mudali 1st Street is classified as Residential Special Type - II.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Mahadeva Mudali 1st Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,45,000.