Guideline Value for NATTU SUBBARAYA MUDALI 1ST LANE

Nattu Subbaraya Mudali 1st Lane guideline value

The current guideline value of Nattu Subbaraya Mudali 1st Lane is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village under the Mylapore SRO, classified as Residential Class III Type - III.

How the guideline value of Nattu Subbaraya Mudali 1st Lane has changed

The guideline value for Nattu Subbaraya Mudali 1st Lane has seen several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 751 per sq.ft. This increased significantly to Rs 835 per sq.ft in 2003, marking an 11% rise. The value then rose dramatically to Rs 8,000 per sq.ft in 2012, reflecting an increase of 858%. However, from 2012 to 2017, the value decreased by 33% to Rs 5,360 per sq.ft. The subsequent revision in 2023 saw a substantial increase to Rs 8,000 per sq.ft, followed by a further rise to Rs 8,800 per sq.ft in 2024, which is a 10% increase from the previous year. Notably, there is no figure available for the street in the 2007 revision.

Overall, from 2002 to 2024, the guideline value has increased by 1072%, showcasing the significant changes over the years. The 2024 figure aligns with the median guideline value of Rs 8,800 per sq.ft for Mylapore, as there are 883 streets under the Mylapore SRO with values ranging from Rs 3,300 to Rs 25,800 per sq.ft.

Guideline values in Mylapore

Nattu Subbaraya Mudali 1st Lane's 2024 guideline value of Rs 8,800 per sq.ft is consistent with the median value for the area. Other streets in Mylapore under the Mylapore SRO include:

• 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)
• Nattu Muthu Kumarappa Mudali Street: Rs 8,800 per sq.ft (2024)
• Nattan Thottam: Rs 3,300 per sq.ft (2024)
• Natesan Colony: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Nattu Subbaraya Mudali 1st Lane

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

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

Which Sub Registrar Office covers Nattu Subbaraya Mudali 1st Lane?

The Nattu Subbaraya Mudali 1st Lane falls under the jurisdiction of 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 details.

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

The guideline value is a critical factor during property transactions in Mylapore, as it determines the minimum value at which properties can be registered. When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher.

This system ensures that the property transactions are transparent and that the government receives appropriate revenue from property sales. It is advisable for buyers and sellers to be aware of the current guideline values to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of Nattu Subbaraya Mudali 1st Lane?

The current guideline value of Nattu Subbaraya Mudali 1st Lane 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 significantly from Rs 751 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 1072% over this period.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

Which office handles registrations for this area?

The Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018, handles registrations for Nattu Subbaraya Mudali 1st Lane.

What is the land classification for Nattu Subbaraya Mudali 1st Lane?

Nattu Subbaraya Mudali 1st Lane is classified as Residential Class III Type - III, indicating its suitability for residential purposes.