Guideline Value for NATTU VEERACHI MUDALI STREET

Nattu Veerachi Mudali Street guideline value

The current guideline value of Nattu Veerachi 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 is classified as Residential Class III Type - III.

How the guideline value of Nattu Veerachi Mudali Street has changed

The guideline value for Nattu Veerachi Mudali Street has seen several revisions over the years. In 2002, the value was Rs 1,038 per sq.ft, which increased to Rs 1,153 per sq.ft in 2003, marking an increase of 11%. Following this, the value surged significantly to Rs 8,000 per sq.ft in 2012, representing a remarkable increase of 594%. However, it decreased to Rs 5,360 per sq.ft in 2017, which was a decline of 33%. The latest revision in 2024 has set the guideline value at Rs 8,800 per sq.ft, reflecting a substantial increase of 64% from the previous figure.

It is important to note that there are no figures available for the years 2007 and 2023 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 748%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value is Rs 8,800 per sq.ft, which is equal to the current guideline value of Nattu Veerachi Mudali Street.

• Nattu Subbraya Mudali 2nd Lane: Rs 8,800 per sq.ft (2024)
• Nattu Subbaraya Mudali Street: Rs 8,800 per sq.ft (2024)
• Nattu Subbaraya Mudali 1st Lane: 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 Veerachi 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 amounts to Rs 88,00,000. The stamp duty, charged at 7%, would be Rs 6,16,000, and the registration fee, charged at 2%, would be Rs 1,76,000. Together, these fees would total Rs 7,92,000. 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 more details.

Which Sub Registrar Office covers Nattu Veerachi Mudali Street?

The Nattu Veerachi Mudali Street 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 further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Mylapore. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory during the sale or purchase of a property.

When a buyer or seller engages in a property transaction, the guideline value is considered to ensure that the transaction is recorded accurately. This value helps maintain transparency and standardization in property dealings within the region.

Frequently asked questions

What is the current guideline value of Nattu Veerachi Mudali Street?

The current guideline value of Nattu Veerachi 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 significantly from Rs 1,038 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, marking an overall increase of 748% over the years.

What is the stamp duty for properties on Nattu Veerachi Mudali Street?

The stamp duty for properties on Nattu Veerachi Mudali Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Nattu Veerachi Mudali Street?

The Sub Registrar Office covering Nattu Veerachi Mudali Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

Are there other streets with the same guideline value in Mylapore?

Yes, there are several other streets in Mylapore with the same guideline value of Rs 8,800 per sq.ft, including Nattu Subbraya Mudali 2nd Lane, Nattu Subbaraya Mudali Street, Nattu Subbaraya Mudali 1st Lane, and Nattu Muthu Kumarappa Mudali Street.