Guideline Value for Mudaliyandan Street

Mudaliyandan Street guideline value

The current guideline value of Mudaliyandan Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Mudaliyandan Street has changed

The guideline value for Mudaliyandan Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 7,700 per sq.ft, which is an increase from Rs 7,000 per sq.ft in the 2023 revision, reflecting a 10% rise. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002.

Prior to the 2023 revision, the guideline value for Mudaliyandan Street was not listed in the register for the aforementioned years. The 2024 figure of Rs 7,700 per sq.ft is below the median value of Rs 8,800 per sq.ft for the 332 streets in Mylapore Part 2 under the Chennai Central Joint I SRO.

Guideline values in Mylapore Part 2

In Mylapore Part 2, the guideline values vary significantly across different streets, ranging from Rs 4,400 to Rs 25,300 per sq.ft. Here are some other streets in Mylapore Part 2 under the Chennai Central Joint I SRO:

• Mudaliyanndan Thottam: Rs 7,700 per sq.ft (2024)
• Murrays Gate Road: Rs 14,300 per sq.ft (2024)
• Muthaiah Mudali Street: Rs 8,700 per sq.ft (2024)
• Muthaiah Pillai Street: Rs 8,700 per sq.ft (2024)
• Muthiah Street: Rs 8,700 per sq.ft (2024)
• Muthu Lane: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in Mudaliyandan Street

For a 1,000 sq.ft plot at the current rate of Rs 7,700 per sq.ft, the guideline value totals Rs 77,00,000. The stamp duty at 7% amounts to Rs 5,39,000, while the registration fee at 2% is Rs 1,54,000, bringing the total to Rs 6,93,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mudaliyandan Street?

The Sub Registrar Office that covers Mudaliyandan Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value plays a crucial role in the registration process when buying or selling property in Mylapore Part 2. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Mudaliyandan Street?

The current guideline value of Mudaliyandan Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Mudaliyandan Street was Rs 7,000 per sq.ft in 2023, and it increased by 10% to Rs 7,700 per sq.ft in 2024. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002.

What is the median guideline value in Mylapore Part 2?

The median guideline value in Mylapore Part 2 is Rs 8,800 per sq.ft. The guideline value of Mudaliyandan Street is below this median.

What are the stamp duty rates for properties in Mudaliyandan Street?

The stamp duty for properties in Mudaliyandan Street is charged at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the guideline value.

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

The Sub Registrar Office for Mudaliyandan Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.