Guideline Value for Nallamma Mudali Street

Nallamma Mudali Street guideline value

The current guideline value of Nallamma Mudali Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village, under the Sowcarpet Sub Registrar Office. The land classification for this area is Residential Class II Type - I.

How the guideline value of Nallamma Mudali Street has changed

Over the years, the guideline value of Nallamma Mudali Street has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 1,000 per sq.ft. This value increased significantly to Rs 3,500 per sq.ft in 2012, marking a 250% increase. However, between 2012 and 2017, the value decreased to Rs 2,345 per sq.ft, a decline of 33%. The value then rose to Rs 3,500 per sq.ft in 2023, showing a 49% increase. The most recent revision in 2024 set the guideline value at Rs 3,800 per sq.ft, which is a 9% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for Nallamma Mudali Street. Overall, from 2007 to 2024, the guideline value has increased by 280%.

Guideline values in Muthiyalpet

Muthiyalpet village has a total of 357 streets 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, indicating that Nallamma Mudali Street's 2024 figure is below this median.

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

Stamp duty and registration fee for property in Nallamma Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Nallamma Mudali Street?

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

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

The guideline value is a crucial factor during the registration of property transactions in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When a buyer or seller engages in a property transaction, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are levied based on the established rates. This process helps maintain transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Nallamma Mudali Street?

The current guideline value of Nallamma Mudali Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 1,000 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, which is an overall increase of 280%.

What is the median guideline value in Muthiyalpet?

The median guideline value in Muthiyalpet is Rs 4,400 per sq.ft, indicating that Nallamma Mudali Street's 2024 figure is below this median.

What are the stamp duty and registration fees for properties in Nallamma Mudali Street?

For a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 3,42,000, which includes stamp duty and registration fees based on the guideline value.

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

The Sowcarpet Sub Registrar Office covers Nallamma Mudali Street and is located at No.11, Davidson Street, Sowcarpet, Chennai-01.