Guideline Value for Mahadeva Mudali 3rd Street

Mahadeva Mudali 3rd Street guideline value

The current guideline value of Mahadeva Mudali 3rd 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 is classified as Residential Class I Type - I.

How the guideline value of Mahadeva Mudali 3rd Street has changed

The guideline value for Mahadeva Mudali 3rd Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, an increase from Rs 2,500 per sq.ft in the 2023 revision, marking an 8% rise. The register has no figure for this street for the years 2017, 2012, 2007, 2003, and 2002.

Before the current figures, the guideline value for Mahadeva Mudali 3rd Street was Rs 2,500 per sq.ft in 2023. The absence of recorded values in earlier revisions indicates that the street was not assessed during those years. The consistent increase in the recent revisions reflects the adjustments made in the guideline values for properties in this area.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which aligns with the current guideline value for Mahadeva Mudali 3rd Street.

• Mahadeva Mudali 2nd Street: Rs 2,700 per sq.ft (2024)
• Mahadeva Mudali 4th Street: Rs 2,700 per sq.ft (2024)
• Mahadeva Mudali 1st 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty, charged at 7%, amounts to Rs 1,89,000, while the registration fee at 2% is Rs 54,000. Together, the total cost for stamp duty and registration fee would be Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mahadeva Mudali 3rd Street?

The Sub Registrar Office that covers Mahadeva Mudali 3rd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is recorded accurately in the official documents.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the property's assessed value, helping maintain transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Mahadeva Mudali 3rd Street?

The current guideline value of Mahadeva Mudali 3rd 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 changed from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, reflecting an 8% increase. There are no recorded figures for this street for the years 2017, 2012, 2007, 2003, and 2002.

What is the land classification for Mahadeva Mudali 3rd Street?

Mahadeva Mudali 3rd Street is classified as Residential Class I Type - I. This classification typically indicates the type of development and usage permitted in the area.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Mahadeva Mudali 3rd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in this area?

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