Guideline Value for Nagappa Mudali street

Nagappa Mudali street guideline value

The current guideline value of Nagappa Mudali street is Rs 10,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet SRO, and is classified as Mixed Type - II land.

How the guideline value of Nagappa Mudali street has changed

The guideline value for Nagappa Mudali street has seen significant changes over the years. In 2002, the guideline value was Rs 601 per sq.ft, which increased to Rs 663 per sq.ft in 2003, reflecting a rise of 10%. The value then rose dramatically to Rs 1,500 per sq.ft in 2007, marking a substantial increase of 126%. Following this, the value surged to Rs 9,200 per sq.ft in 2012, representing a remarkable increase of 513%. However, from 2012 to 2017, the value decreased to Rs 6,164 per sq.ft, a drop of 33%. The guideline value then increased to Rs 9,200 per sq.ft in 2023, before reaching the current figure of Rs 10,100 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1581%. It is important to note that there are no figures available for the revisions in years other than those mentioned.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value in this area is Rs 7,100 per sq.ft, placing Nagappa Mudali street's current value above this median.

• MuthusolaiStreet: Rs 4,900 per sq.ft (2024)
• Muthiyappa Gramani street: Rs 7,100 per sq.ft (2024)
• Narayana doss street: Rs 7,100 per sq.ft (2024)
• Narayana Naicken 10th lane: Rs 7,100 per sq.ft (2024)
• Narayana Naicken 11th lane: Rs 7,100 per sq.ft (2024)
• Narayana Naicken 12th lane: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Nagappa Mudali street

For a 1,000 sq.ft plot at the current guideline value of Rs 10,100 per sq.ft, the total guideline value would be Rs 1,01,00,000. The stamp duty at 7% would amount to Rs 7,07,000, and the registration fee at 2% would be Rs 2,02,000, bringing the total fees together to Rs 9,09,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nagappa Mudali street?

The Sub Registrar Office that covers Nagappa Mudali street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO online for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Egmore. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on an official valuation of the property.

When a property is sold, the higher value between the guideline value and the sale price is used to determine the applicable duties. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Nagappa Mudali street?

The current guideline value of Nagappa Mudali street is Rs 10,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 601 per sq.ft in 2002 and reaching Rs 10,100 per sq.ft in 2024, marking an overall increase of 1581% over this period.

What are the stamp duty and registration fees for property in Nagappa Mudali street?

For a property valued at Rs 1,01,00,000, the stamp duty would be Rs 7,07,000, and the registration fee would be Rs 2,02,000, totaling Rs 9,09,000.

Which Sub Registrar Office covers Nagappa Mudali street?

The Periamet Sub Registrar Office covers Nagappa Mudali street, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. The higher value between the guideline value and the sale price is considered for these calculations, ensuring a standardized approach to property registration.