Guideline Value for Mazudhi Street

Mazudhi Street guideline value

The current guideline value of Mazudhi Street in Noombal village under the Kunrathur SRO is Rs 2,090 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - I.

How the guideline value of Mazudhi Street has changed

The guideline value for Mazudhi Street has experienced significant changes over the years. In the 2003 revision, the value was Rs 105 per sq.ft, which saw a remarkable increase to Rs 1,273 per sq.ft in the 2017 revision, marking a change of +1112%. The value continued to rise to Rs 1,900 per sq.ft in the 2023 revision, reflecting a +49% increase. The latest revision in 2024 set the guideline value at Rs 2,090 per sq.ft, which is a +10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2007, and 2012 for Mazudhi Street. Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by +1890%.

Guideline values in Noombal

Noombal village has a total of 164 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, which is equal to the guideline value of Mazudhi Street.

• Menaka Estate: Rs 2,090 per sq.ft (2024)
• Mariyamman Koil Street: Rs 2,090 per sq.ft (2024)
• Mettu Street: Rs 2,420 per sq.ft (2024)
• Mahalakshmi Nagar Main Road: Rs 2,090 per sq.ft (2024)
• Mahalakshmi Nagar Ist Main Road: Rs 2,090 per sq.ft (2024)
• Mahalakshmi Nagar 6th Main Road: Rs 2,090 per sq.ft (2024)

Stamp duty and registration fee for property in Mazudhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,090 per sq.ft, the total guideline value would be Rs 20,90,000. The stamp duty at 7% would amount to Rs 1,46,300, while the registration fee at 2% would be Rs 41,800. Together, the total cost for stamp duty and registration fee would be Rs 1,88,100. 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 information.

Which Sub Registrar Office covers Mazudhi Street?

The Sub Registrar Office that covers Mazudhi Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Noombal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Mazudhi Street?

The current guideline value of Mazudhi Street is Rs 2,090 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2003, the guideline value has increased from Rs 105 per sq.ft to Rs 2,090 per sq.ft in 2024, which is an overall increase of +1890%.

What are the stamp duty and registration fees for property in Mazudhi Street?

For a property valued at Rs 20,90,000, the stamp duty would be Rs 1,46,300 and the registration fee would be Rs 41,800, totaling Rs 1,88,100.

Which Sub Registrar Office covers Mazudhi Street?

The Kunrathur Sub Registrar Office covers Mazudhi Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Mazudhi Street?

Mazudhi Street is classified as Residential Special Type - I, indicating its designation for residential purposes.