Guideline Value for Muthappa Mudali Street

Muthappa Mudali Street guideline value

The current guideline value of Muthappa Mudali Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO and is classified as Residential Class I Type - I.

How the guideline value of Muthappa Mudali Street has changed

The guideline value for Muthappa Mudali Street has seen several revisions over the years. The earliest recorded figure was in 2012, where it was set at Rs 2,000 per sq.ft. In 2017, this figure decreased to Rs 1,340 per sq.ft, marking a decline of 33%. However, from 2017 to the latest revision in 2024, the guideline value increased significantly to Rs 2,200 per sq.ft, reflecting a rise of 64%. Overall, from 2012 to 2024, there has been a modest increase of 10%.

It is important to note that there are no recorded figures for Muthappa Mudali Street for the years 2002, 2003, 2007, and 2023. This lack of data indicates that the guideline values were either not established or not applicable during those years.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for the area is Rs 1,600 per sq.ft, placing Muthappa Mudali Street's 2024 figure above this median.

• Muthiah Chetty Street: Rs 2,200 per sq.ft (2024)
• Muthiah Mudali Street: Rs 2,200 per sq.ft (2024)
• Muthiah Mudali Street 1st Lane: Rs 2,200 per sq.ft (2024)
• Muthiyalu Maistry Street: Rs 1,600 per sq.ft (2024)
• Murugesan Street: Rs 2,200 per sq.ft (2024)
• Nagooram Thottam 1st Cross Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Muthappa Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, calculated at 7%, would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthappa Mudali Street?

The Sub Registrar Office that covers Muthappa Mudali Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Tondaiarpet. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when transferring property ownership. This value is set by the government and is periodically revised to reflect changes in the real estate market.

When buying or selling property, it is essential to be aware of the current guideline value, as it affects the overall cost of the transaction. Buyers should ensure that they are prepared for the associated fees based on this value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Muthappa Mudali Street?

The current guideline value of Muthappa Mudali Street 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 from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, and then increased to Rs 2,200 per sq.ft in 2024. This reflects a 64% increase from 2017 to 2024.

What is the land classification for Muthappa Mudali Street?

Muthappa Mudali Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Royapuram Sub Registrar Office?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the same. For example, a 1,000 sq.ft plot at Rs 2,200 per sq.ft would incur total fees of Rs 1,98,000.