Guideline Value for Nainiappa Mudali Street

Nainiappa Mudali Street guideline value

The current guideline value of Nainiappa Mudali Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, classified as Residential Special Type - I.

How the guideline value of Nainiappa Mudali Street has changed

The guideline value for Nainiappa Mudali Street has seen several revisions over the years. In 2003, the value was Rs 1,228 per sq.ft, which increased to Rs 2,000 per sq.ft in 2007. The following revision in 2012 saw the value rise to Rs 5,500 per sq.ft, but it then dropped to Rs 3,685 per sq.ft in 2017. The 2023 revision set the value at Rs 5,500 per sq.ft, and the latest 2024 revision increased it to Rs 6,000 per sq.ft. Notably, the register has no figure for this street for the year 2002.

From 2017 to 2023, the value increased by 49%, while from 2012 to 2017, it decreased by 33%. The jump from 2007 to 2012 was significant at 175%, and the increase from 2003 to 2007 was 63%. Overall, from 2003 to 2024, the guideline value has risen by 389%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value, ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing Nainiappa Mudali Street's 2024 figure above that median.

• Nainiappa Maistry Street: Rs 6,000 per sq.ft (2024)
• Nainiappa Maistry Lane: Rs 4,400 per sq.ft (2024)
• Nainiappa Naicken Street: Rs 8,800 per sq.ft (2024)
• Nallamma Mudali Street: Rs 3,800 per sq.ft (2024)
• Nallanna Mudali Street: Rs 3,800 per sq.ft (2024)
• Nambuliyar Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Nainiappa Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total to Rs 5,40,000. It is important to note that 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 Nainiappa Mudali Street?

The Sub Registrar Office that covers Nainiappa Mudali Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When registering a property, the guideline value ensures that the transaction is recorded at a fair price, reflecting the value of the property as determined by the state. This helps in maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Nainiappa Mudali Street?

The current guideline value of Nainiappa Mudali Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, with the most recent increase from Rs 5,500 per sq.ft in 2023 to Rs 6,000 per sq.ft in 2024. Overall, from 2003 to 2024, the guideline value has increased by 389%.

What is the land classification of Nainiappa Mudali Street?

Nainiappa Mudali Street is classified as Residential Special Type - I, which indicates its designated purpose for residential development.

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

The Sowcarpet Sub Registrar Office, which covers Nainiappa Mudali Street, is located at No.11, Davidson Street, Sowcarpet, Chennai-01, Chennai registration zone.

How is the stamp duty calculated for properties in Muthiyalpet?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 60,00,000, the stamp duty at 7% would be Rs 4,20,000.