Guideline Value for NATTU MUTHU KUMARAPPA MUDALI STREET

Nattu Muthu Kumarappa Mudali Street guideline value

The current guideline value of Nattu Muthu Kumarappa Mudali Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and falls under Residential Class III Type - III land classification.

How the guideline value of Nattu Muthu Kumarappa Mudali Street has changed

The guideline value for Nattu Muthu Kumarappa Mudali Street has seen several revisions over the years. The earliest recorded figure is from 2002, where it was Rs 783 per sq.ft. This increased to Rs 870 per sq.ft in 2003, marking an 11% rise. However, there is no figure available for the year 2007. In 2012, the value was recorded at Rs 8,000 per sq.ft, which was a decrease of 33% from the previous revision. The value then rose to Rs 5,360 per sq.ft in 2017, reflecting a significant increase of 49% over the 2012 figure. The most recent revision in 2023 set the value at Rs 8,000 per sq.ft, which was a 49% increase from 2017. Finally, the current guideline value stands at Rs 8,800 per sq.ft, representing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1024%. The changes in the guideline values reflect the historical fluctuations in the area, with the most notable increase occurring between 2003 and 2012.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets in 2024 is Rs 8,800 per sq.ft, which is equal to the current guideline value of Nattu Muthu Kumarappa Mudali Street.

• Nattan Thottam: Rs 3,300 per sq.ft (2024)
• Nattu Subbaraya Mudali 1st Lane: Rs 8,800 per sq.ft (2024)
• Nattu Subbaraya Mudali Street: Rs 8,800 per sq.ft (2024)
• Nattu Subbraya Mudali 2nd Lane: Rs 8,800 per sq.ft (2024)
• Nattu Veerachi Mudali Street: Rs 8,800 per sq.ft (2024)
• Natesan Colony: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Nattu Muthu Kumarappa Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, leading to a total of Rs 7,92,000 for both fees. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nattu Muthu Kumarappa Mudali Street?

The Sub Registrar Office that covers Nattu Muthu Kumarappa Mudali Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Mylapore. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The fees are calculated based on the higher of the guideline value or the actual sale price of the property.

Understanding the guideline value is essential for buyers and sellers alike, as it ensures compliance with local regulations during the registration process. It also helps in assessing the financial obligations associated with property transactions in the area.

Frequently asked questions

What is the current guideline value of Nattu Muthu Kumarappa Mudali Street?

The current guideline value of Nattu Muthu Kumarappa Mudali Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 783 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 1024% over the years.

What is the stamp duty for property in Nattu Muthu Kumarappa Mudali Street?

The stamp duty for property in Nattu Muthu Kumarappa Mudali Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Nattu Muthu Kumarappa Mudali Street located?

The Sub Registrar Office for Nattu Muthu Kumarappa Mudali Street is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What are the other streets with the same guideline value in Mylapore?

Other streets in Mylapore with the same guideline value of Rs 8,800 per sq.ft include Nattu Subbaraya Mudali 1st Lane, Nattu Subbaraya Mudali Street, Nattu Subbraya Mudali 2nd Lane, Nattu Veerachi Mudali Street, and Natesan Colony.