Guideline Value for Mudthal board school varai

Mudthal board school varai guideline value

The current guideline value for Mudthal board school varai is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class II Type - I.

How the guideline value of Mudthal board school varai has changed

The guideline value for Mudthal board school varai has seen significant changes over the years. In 2007, the guideline value was Rs 300 per sq.ft. This increased dramatically to Rs 2,000 per sq.ft in 2012, marking a rise of 567%. However, the value then decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. The value rebounded to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

Between 2017 and 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 633%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is the same as the current value for Mudthal board school varai.

• Mulla thottam: Rs 2,200 per sq.ft (2024)
• Munikrishna nagar: Rs 2,200 per sq.ft (2024)
• Mohana nagar: Rs 2,200 per sq.ft (2024)
• Mohamed quarters: Rs 2,200 per sq.ft (2024)
• M.M.Nagar: Rs 2,200 per sq.ft (2024)
• Muthamizh nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mudthal board school varai

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 Mudthal board school varai?

The Mudthal board school varai area is covered by the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Poonthamallee. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable duties, which are charged based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Mudthal board school varai?

The current guideline value for Mudthal board school varai is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 300 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 633% over this period.

What are the stamp duty rates for properties in Mudthal board school varai?

The stamp duty for properties in Mudthal board school varai is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Mudthal board school varai?

The Poonamallee Sub Registrar Office covers Mudthal board school varai and is located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring that the correct amounts are paid based on the higher of the guideline value or the sale price.