Guideline Value for Muthaiah Mudali Street

Muthaiah Mudali Street guideline value

The current guideline value of Muthaiah Mudali Street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village, under the Chennai Central Joint I SRO, and falls under the Residential Class I Type - III land classification.

How the guideline value of Muthaiah Mudali Street has changed

In the 2023 revision, the guideline value was set at Rs 8,000 per sq.ft. This marked an increase from the previous revision. The 2024 revision saw a further increase of 9%, bringing the current guideline value to Rs 8,700 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

The changes between the revisions indicate a steady increase in the guideline value, moving from Rs 8,000 in 2023 to Rs 8,700 in 2024. The absence of figures in earlier revisions suggests that the value for Muthaiah Mudali Street has only been established in the more recent years.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Muthaiah Mudali Street's 2024 figure below that median.

• Muthaiah Pillai Street: Rs 8,700 per sq.ft (2024)
• Murrays Gate Road: Rs 14,300 per sq.ft (2024)
• Muthiah Street: Rs 8,700 per sq.ft (2024)
• Muthu Lane: Rs 8,700 per sq.ft (2024)
• Mudaliyanndan Thottam: Rs 7,700 per sq.ft (2024)
• Mudaliyandan Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Muthaiah Mudali Street

For a 1,000 sq.ft plot at the current rate of Rs 8,700 per sq.ft, the guideline value would be Rs 87,00,000. The stamp duty at 7% would amount to Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, totaling Rs 7,83,000. 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 further calculations.

Which Sub Registrar Office covers Muthaiah Mudali Street?

The Muthaiah Mudali Street is covered by the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value plays a crucial role during property registration in Mylapore Part 1. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property transfers.

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

Frequently asked questions

What is the current guideline value of Muthaiah Mudali Street?

The current guideline value of Muthaiah Mudali Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Muthaiah Mudali Street was Rs 8,000 per sq.ft in 2023 and increased to Rs 8,700 per sq.ft in 2024. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002.

What is the registration office for Muthaiah Mudali Street?

The registration office for Muthaiah Mudali Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Muthaiah Mudali Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees can be calculated accordingly.

What other streets are in Mylapore Part 1?

Other streets in Mylapore Part 1 include Muthaiah Pillai Street, Murrays Gate Road, Muthiah Street, Muthu Lane, Mudaliyanndan Thottam, and Mudaliyandan Street, each with their respective guideline values.