Guideline Value for Mahadeva Mudali 2nd Street

Mahadeva Mudali 2nd Street guideline value

The current guideline value of Mahadeva Mudali 2nd Street is Rs 3,500 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam SRO, and is classified as Residential Special Type - II.

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

The guideline value for Mahadeva Mudali 2nd Street has seen several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 3,200 per sq.ft in 2012. However, it fell to Rs 2,144 per sq.ft in 2017 before rising again to Rs 3,200 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 3,500 per sq.ft.

Between the revisions, there have been notable changes. From 2007 to 2012, the value increased by 300%. However, it decreased by 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, there was a 9% increase from 2023 to 2024. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO, with guideline values ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, making the 2024 figure of Rs 3,500 per sq.ft for Mahadeva Mudali 2nd Street above the median.

• Mahadeva Mudali 1st 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 2nd 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, bringing the total to Rs 3,15,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mahadeva Mudali 2nd Street?

The Sub Registrar Office that covers Mahadeva Mudali 2nd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Sembiam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of ownership. It is essential to be aware of the latest guideline values to avoid any discrepancies during the registration process.

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 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, with several revisions in between, including a peak of Rs 3,200 per sq.ft in 2012 and a dip to Rs 2,144 per sq.ft in 2017.

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

Mahadeva Mudali 2nd Street is classified as Residential Special Type - II, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property in this area?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For example, a property valued at Rs 35,00,000 would incur a total fee of Rs 3,15,000.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles property registrations in the area.