Guideline Value for Mudichur Road

Mudichur Road guideline value

The current guideline value of Mudichur Road in Mudichur village, under the Padappai SRO, is Rs 3,630 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Class I Type - I.

How the guideline value of Mudichur Road has changed

The guideline value for Mudichur Road has seen several revisions over the years. The 2007 revision recorded a value of Rs 350 per sq.ft, which significantly increased to Rs 3,300 per sq.ft in 2012, marking an increase of 843%. However, the value decreased to Rs 2,211 per sq.ft in 2017, reflecting a decline of 33%. The subsequent revision in 2023 raised the value to Rs 3,300 per sq.ft, and the latest revision in 2024 has set the current guideline value at Rs 3,630 per sq.ft, an increase of 10% from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 937%.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Mudichur Road's 2024 figure above this median.

• Mudichur West: Rs 2,200 per sq.ft (2024)
• Muthamizhal Nagar: Rs 1,760 per sq.ft (2024)
• Muthu Mariamman Koil Street: Rs 1,210 per sq.ft (2024)
• Nadarajan Street: Rs 1,210 per sq.ft (2024)
• MGR Nagar: Rs 1,210 per sq.ft (2024)
• Meenakshi Nagar: Rs 1,210 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 3,630 per sq.ft, the total guideline value amounts to Rs 36,30,000. The stamp duty at 7% would be Rs 2,54,100, and the registration fee at 2% would be Rs 72,600, bringing the total cost for these fees to Rs 3,26,700. 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?

The Sub Registrar Office that covers Mudichur Road 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 information.

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

The guideline value is a crucial factor during the registration of property transactions in Mudichur. It determines the base value on which stamp duty and registration fees are calculated, ensuring that the fees are proportionate to the property's worth.

When buyers and sellers engage in a transaction, the guideline value serves as a reference point to assess the value of the property being transferred. It helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Mudichur Road?

The current guideline value of Mudichur Road is Rs 3,630 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 350 per sq.ft in 2007 to Rs 3,630 per sq.ft in 2024, representing an overall increase of 937% over this period.

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?

The Sub Registrar Office for Mudichur is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How are stamp duty and registration fees calculated in Mudichur?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value incurs a total fee of Rs 3,26,700.