Guideline Value for Mahadevan Street

Mahadevan Street guideline value

The current guideline value of Mahadevan Street in Thirumudivakkam village, under the Padappai SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - I.

How the guideline value of Mahadevan Street has changed

In the 2017 revision, the guideline value was Rs 804 per sq.ft. This increased to Rs 1,200 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 has set the guideline value at Rs 1,320 per sq.ft, reflecting a further increase of 10% from the previous year.

Overall, from 2017 to 2024, the guideline value has risen by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for Mahadevan Street.

Guideline values in Thirumudivakkam

There are 56 streets in Thirumudivakkam under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 3,860 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, which is equal to the current guideline value of Mahadevan Street.

• Maha Kavi Bharathi Nagar: Rs 1,320 per sq.ft (2024)
• Mahalakshmi Avenue: Rs 1,320 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,320 per sq.ft (2024)
• Mangalapuri: Rs 1,320 per sq.ft (2024)
• Lakshmi Nagar: Rs 660 per sq.ft (2024)
• Lakshmi Avenue: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Mahadevan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Mahadevan Street?

The Sub Registrar Office that covers Mahadevan Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Thirumudivakkam. 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 official valuation of the property. It is essential for buyers to be aware of the guideline value to ensure compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Mahadevan Street?

The current guideline value of Mahadevan Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023, and then to Rs 1,320 per sq.ft in 2024.

What is the land classification for Mahadevan Street?

Mahadevan Street is classified as Residential Special Type - I.

Where can I find the Sub Registrar Office for Mahadevan Street?

The Sub Registrar Office covering Mahadevan Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Mahadevan Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 13,20,000 would incur a stamp duty of Rs 92,400.