Guideline Value for Muthiah Mudali Street 1st Lane

Muthiah Mudali Street 1st Lane guideline value

The current guideline value for Muthiah Mudali Street 1st Lane is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Muthiah Mudali Street 1st Lane has changed

The guideline value for Muthiah Mudali Street 1st Lane has seen several revisions over the years. In 2007, the value was set at Rs 600 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a 233% increase. The most recent revision in 2024 raised the value further to Rs 2,200 per sq.ft, reflecting a 10% increase from the 2012 figure. Notably, there are no figures available for the years 2002, 2003, 2017, and 2023 in the register for this street.

Overall, from 2007 to 2024, the guideline value has increased by 267%, showcasing a substantial rise in the valuation of this street over the years.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, and Muthiah Mudali Street 1st Lane's 2024 figure is above this median.

• Muthiah Mudali Street: Rs 2,200 per sq.ft (2024)
• Muthiah Chetty Street: Rs 2,200 per sq.ft (2024)
• Muthappa Mudali Street: 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 Muthiah Mudali Street 1st Lane

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. It is important to note that the 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 further assistance.

Which Sub Registrar Office covers Muthiah Mudali Street 1st Lane?

The Sub Registrar Office that covers Muthiah Mudali Street 1st Lane 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 is a critical factor in the registration process when buying or selling property in Tondaiarpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and fairly, reflecting the current valuation standards set by the Registration Department.

Frequently asked questions

What is the current guideline value for Muthiah Mudali Street 1st Lane?

The current guideline value for Muthiah Mudali Street 1st Lane 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 increased from Rs 600 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 267% over this period.

Is there a guideline value for the year 2023 for this street?

No, the register has no figure for Muthiah Mudali Street 1st Lane for the year 2023.

What is the stamp duty rate applicable for properties in this area?

The stamp duty rate applicable for properties in Muthiah Mudali Street 1st Lane is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Muthiah Mudali Street 1st Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.