Guideline Value for Mahadeva Mudali 2nd Street

Mahadeva Mudali 2nd Street guideline value

The current guideline value of Mahadeva Mudali 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO and falls under the Residential Class I Type - I land classification.

How the guideline value of Mahadeva Mudali 2nd Street has changed

According to the register, there are no figures for Mahadeva Mudali 2nd Street in the revisions from 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 2,500 per sq.ft, which was an increase from the previous revisions. The most recent 2024 revision raised the guideline value to Rs 2,700 per sq.ft, reflecting an increase of 8% from the 2023 figure.

The current guideline value of Rs 2,700 per sq.ft aligns with the median value of Rs 2,700 per sq.ft for 1318 streets in Kodungaiyur under the Madhavaram SRO. This indicates that Mahadeva Mudali 2nd Street's guideline value is consistent with the overall trends in the area.

Guideline values in Kodungaiyur

The guideline values for properties in Kodungaiyur range from Rs 1,900 to Rs 4,000 per sq.ft, with the median being Rs 2,700 per sq.ft. Mahadeva Mudali 2nd Street's 2024 guideline value matches this median.

• Mahadeva Mudali 1st Street: Rs 2,700 per sq.ft (2024)
• Mahadeva Mudali 3rd Street: Rs 2,700 per sq.ft (2024)
• Mahadeva Mudali 4th Street: Rs 2,700 per sq.ft (2024)
• Loganathan Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Loganathan Street (G.M. Nagar): Rs 2,200 per sq.ft (2024)
• Loganathan Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mahadeva Mudali 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that the 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 more precise calculations.

Which Sub Registrar Office covers Mahadeva Mudali 2nd Street?

The Mahadeva Mudali 2nd Street falls under the jurisdiction of the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Kodungaiyur, as it is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations and to accurately calculate the costs involved in the transaction.

When registering a property, the guideline value is considered the minimum value for the transaction. If the sale price exceeds the guideline value, the stamp duty will be calculated based on the higher amount, ensuring that all parties are adhering to the established legal framework.

Frequently asked questions

What is the current guideline value of Mahadeva Mudali 2nd Street?

The current guideline value of Mahadeva Mudali 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, marking an 8% increase. There are no figures for the revisions in 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Mahadeva Mudali 2nd Street?

Mahadeva Mudali 2nd Street is classified under Residential Class I Type - I. This classification may affect the types of developments permissible in the area.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office is responsible for property registrations in the area.

How is stamp duty calculated for properties in Mahadeva Mudali 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at 7%.