Guideline Value for Murugesa Mudali Street

Murugesa Mudali Street guideline value

The current guideline value of Murugesa Mudali Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, classified as Residential Special Type - III.

How the guideline value of Murugesa Mudali Street has changed

Over the years, the guideline value of Murugesa Mudali Street has seen significant changes. The 2003 revision recorded a value of Rs 1,100 per sq.ft, which increased to Rs 1,600 per sq.ft in 2007. Following that, the value surged to Rs 4,500 per sq.ft in 2012, but then dropped to Rs 3,015 per sq.ft in 2017. The 2023 revision brought it back up to Rs 4,500 per sq.ft, and the latest 2024 revision set it at Rs 4,900 per sq.ft, marking a 9% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The 2012 to 2017 period saw a decrease of 33%, while the 2007 to 2012 period experienced a remarkable increase of 181%. The value rose by 45% from 2003 to 2007. Overall, from 2003 to 2024, the guideline value has increased by 345%. The register has no figure for the year 2002 for this street.

Guideline values in Muthiyalpet

In Muthiyalpet village, 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 is Rs 4,400 per sq.ft, placing Murugesa Mudali Street's 2024 figure above this median.

• Murugappan Street: Rs 6,000 per sq.ft (2024)
• Murthi Lane: Rs 4,400 per sq.ft (2024)
• Muniappa Mudali Street: Rs 5,500 per sq.ft (2024)
• Mulla Sahib Street: Rs 5,500 per sq.ft (2024)
• Mulla Sahib Lane: Rs 5,500 per sq.ft (2024)
• Muthu Krishnan Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Murugesa Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, while the registration fee at 2% would be Rs 98,000, bringing the total cost for these fees to Rs 4,41,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Murugesa Mudali Street?

The Sub Registrar Office that covers Murugesa 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 in property transactions in Muthiyalpet, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that must be paid during the sale or purchase of property.

When buying or selling property, it is essential to be aware of the current guideline value, as it influences the overall transaction costs. Buyers should ensure that they are informed about the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Murugesa Mudali Street?

The current guideline value of Murugesa Mudali Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,100 per sq.ft in 2003 to Rs 4,900 per sq.ft in 2024, with various fluctuations in between.

What is the land classification for Murugesa Mudali Street?

Murugesa Mudali Street is classified as Residential Special Type - III under the current land classification.

What are the registration fees for properties in this area?

The registration fees are calculated based on the guideline value, which is currently Rs 4,900 per sq.ft. For example, a 1,000 sq.ft property would incur fees based on its guideline value.

Where is the Sub Registrar Office located for Murugesa Mudali Street?

The Sowcarpet Sub Registrar Office is located at No.11, Davidson Street, Sowcarpet, Chennai-01, covering Murugesa Mudali Street.