Guideline Value for Mudichur Road(From Kakkan Street To Gandhi Road End)

Mudichur Road(From Kakkan Street To Gandhi Road End) guideline value

The current guideline value of Mudichur Road(From Kakkan Street To Gandhi Road End) is Rs 7,700 per sq.ft, effective from 1 July 2024. This road is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Mudichur Road(From Kakkan Street To Gandhi Road End) has changed

The guideline value for Mudichur Road(From Kakkan Street To Gandhi Road End) has seen several revisions over the years. In 2012, the guideline value was Rs 7,000 per sq.ft. This decreased to Rs 4,690 per sq.ft in 2017, marking a reduction of 33%. In 2023, the value increased to Rs 7,000 per sq.ft, and in the latest revision of 2024, it rose to Rs 7,700 per sq.ft, reflecting a 10% increase from the previous year.

Between 2017 and 2023, there was a significant increase of 49%, bringing the value back to the 2012 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, making the current value of Mudichur Road(From Kakkan Street To Gandhi Road End) above this median.

• Mudichur Road(From G.S.T Road to Kakkan Street): Rs 6,600 per sq.ft (2024)
• Mudichur Road(From Gandhi Road End To Perungalathur Boundary): Rs 5,500 per sq.ft (2024)
• M.R. Chetty Street: Rs 1,320 per sq.ft (2024)
• Mullai Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Mullai Nagar (TNHB Colony): Rs 3,300 per sq.ft (2024)
• MoogambigaiNagar Ext: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mudichur Road(From Kakkan Street To Gandhi Road End)

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mudichur Road(From Kakkan Street To Gandhi Road End)?

The Sub Registrar Office that covers Mudichur Road(From Kakkan Street To Gandhi Road End) is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during property registration in Tambaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property. The fees are calculated based on the higher of the guideline value or the actual sale price of the property.

When a buyer or seller approaches the registration office, the guideline value helps ensure that the transaction is recorded accurately and transparently. It also aids in preventing undervaluation of properties, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mudichur Road(From Kakkan Street To Gandhi Road End)?

The current guideline value of Mudichur Road(From Kakkan Street To Gandhi Road End) is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 7,000 per sq.ft in 2012 to Rs 4,690 per sq.ft in 2017, then back to Rs 7,000 per sq.ft in 2023, and finally to Rs 7,700 per sq.ft in 2024.

What is the land classification for Mudichur Road(From Kakkan Street To Gandhi Road End)?

The land classification for Mudichur Road(From Kakkan Street To Gandhi Road End) is Commercial Class I Type - I.

What are the stamp duty and registration fees for property on this road?

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000, and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Which office handles the registration for this road?

The Tambaram Joint 1 Sub Registrar Office handles the registration for Mudichur Road(From Kakkan Street To Gandhi Road End), located at No.26, Mes Road, East Tambaram, Chennai-600059.