Guideline Value for Muniappa Mudali Street

Muniappa Mudali Street guideline value

The current guideline value of Muniappa Mudali Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, classified as Residential Special Type - II.

How the guideline value of Muniappa Mudali Street has changed

The guideline value for Muniappa Mudali Street has undergone several revisions over the years. In 2007, the value was Rs 1,700 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 194%. However, from 2012 to 2017, the value decreased to Rs 3,350 per sq.ft, reflecting a decline of 33%. The subsequent revision in 2023 saw the value rise to Rs 5,000 per sq.ft, followed by a further increase to Rs 5,500 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for Muniappa Mudali Street. Overall, from 2007 to 2024, the guideline value has increased by 224%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO with a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Muniappa Mudali Street's 2024 figure above that median.

• Mulla Sahib Street: Rs 5,500 per sq.ft (2024)
• Mulla Sahib Lane: Rs 5,500 per sq.ft (2024)
• Murthi Lane: Rs 4,400 per sq.ft (2024)
• Murugappan Street: Rs 6,000 per sq.ft (2024)
• Murugesa Mudali Street: Rs 4,900 per sq.ft (2024)
• Mottai Maistry Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Muniappa Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muniappa Mudali Street?

The Sub Registrar Office covering Muniappa Mudali Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Muniappa Mudali Street?

The current guideline value of Muniappa Mudali Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,700 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, showing an overall increase of 224% over the years.

What is the registration office for Muniappa Mudali Street?

The registration office for Muniappa Mudali Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 5,500 per sq.ft, the stamp duty is calculated at 7% and the registration fee at 2%, totaling Rs 4,95,000 for a 1,000 sq.ft plot.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. The higher value between the guideline value and the sale price is taken into account for these calculations.