Guideline Value for Mudichur Road

Mudichur Road guideline value

The current guideline value of Mudichur Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This road is located in Mannivakkam village and falls under the Gooduvancheri SRO, classified as Commercial Class I Type - I.

How the guideline value of Mudichur Road has changed

The guideline value for Mudichur Road has undergone several revisions over the years. In 2012, the value was set at Rs 2,500 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,675 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 2,500 per sq.ft. The most recent revision in 2024 has increased the guideline value to Rs 2,750 per sq.ft, marking a 10% rise from the previous year.

There are no figures available in the register for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Mannivakkam

Mannivakkam village has a total of 118 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 330 to Rs 4,300 per sq.ft. The median guideline value for these streets is Rs 1,215 per sq.ft, placing Mudichur Road's current value above this median.

• Muthukrishnan Nagar: Rs 990 per sq.ft (2024)
• Minitown Mannivakkam: Rs 3,450 per sq.ft (2024)
• M.G.R. Street: Rs 990 per sq.ft (2024)
• Naresh Avenue: Rs 1,100 per sq.ft (2024)
• Nedunsalai Nagar: Rs 1,100 per sq.ft (2024)
• Masuthi Theru: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Mudichur Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. It is important to note that 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 information.

Which Sub Registrar Office covers Mudichur Road?

The Sub Registrar Office that covers Mudichur Road is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mannivakkam. It serves as the benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Mudichur Road?

The current guideline value of Mudichur Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification of Mudichur Road?

Mudichur Road is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for Mudichur Road?

The Gooduvancheri Sub Registrar Office covers Mudichur Road and is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Mudichur Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 2,47,500.