Guideline Value for Mahadeva Mudali 3rd Street

Mahadeva Mudali 3rd Street guideline value

The current guideline value of Mahadeva Mudali 3rd 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 3rd Street has changed

Over the years, the guideline value of Mahadeva Mudali 3rd Street has seen significant changes. The 2007 revision set the value at Rs 800 per sq.ft, which increased to Rs 3,200 per sq.ft in 2012. However, there was a decrease to Rs 2,144 per sq.ft in 2017, before rising again to Rs 3,200 per sq.ft in 2023. The most recent revision in 2024 has increased the guideline value to Rs 3,500 per sq.ft, marking a 9% increase from the previous year.

From 2017 to 2023, the value increased by 49%. The change from 2012 to 2017 saw a decrease of 33%, while the jump from 2007 to 2012 was a notable increase of 300%. Overall, from 2007 to 2024, the guideline value has increased by 338%. The register has no figures for this street for the years 2002 and 2003.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Mahadeva Mudali 3rd Street is above this median.

• Mahadeva Mudali 2nd Street: Rs 3,500 per sq.ft (2024)
• Mahadeva Mudali 1st 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,500 per sq.ft, the total guideline value amounts to Rs 35,00,000. The stamp duty at 7% would be Rs 2,45,000, and the registration fee at 2% would be Rs 70,000, bringing the total to Rs 3,15,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mahadeva Mudali 3rd Street?

The Sub Registrar Office that covers Mahadeva Mudali 3rd 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 an important factor in the registration process when buying or selling property in Sembiam. It serves as a benchmark for calculating stamp duty and registration fees, which are essential components of any property transaction.

When a buyer or seller approaches the registration office, the guideline value helps determine the official value of the property, ensuring that the correct fees are applied based on the higher of the guideline value or the sale price. This process is crucial for maintaining transparency and compliance 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 3,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly 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 3rd Street?

Mahadeva Mudali 3rd Street is classified as Residential Special Type - II.

Where can I find the Sembiam Sub Registrar Office?

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

How is the stamp duty calculated for properties in Sembiam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 35,00,000 would incur a stamp duty of Rs 2,45,000 at 7%.