Guideline Value for Nallanna Mudali Street

Nallanna Mudali Street guideline value

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

How the guideline value of Nallanna Mudali Street has changed

The guideline value for Nallanna Mudali Street has seen several revisions over the years. In 2007, the value was set at Rs 1,000 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, this value dropped to Rs 2,345 per sq.ft in 2017. The most recent figures show an increase to Rs 3,500 per sq.ft in 2023, followed by the current value of Rs 3,800 per sq.ft in 2024.

From 2017 to 2023, there was a notable increase of 49%. The jump from 2023 to 2024 represents a 9% rise. The overall change from 2007 to 2024 is a substantial increase of 280%. It is important to note that the guideline register has no figures for the years 2002 and 2003 for this street.

Guideline values in Muthiyalpet

Muthiyalpet village has a total of 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 Nallanna Mudali Street's 2024 figure below that median.

• Nallamma 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 Nallanna 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 amounts to Rs 38,00,000. The stamp duty, calculated at 7%, would be Rs 2,66,000, while the registration fee at 2% would be Rs 76,000. Together, the total charges would be 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nallanna Mudali Street?

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

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

The guideline value is a crucial factor during property registration in Muthiyalpet. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of this value to ensure compliance with the registration process.

When a property is bought or sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Nallanna Mudali Street?

The current guideline value of Nallanna 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 changed several times, starting from Rs 1,000 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 280% from 2007 to 2024.

What is the median guideline value in Muthiyalpet?

The median guideline value in Muthiyalpet is Rs 4,400 per sq.ft, which is higher than the current value of Nallanna Mudali Street.

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

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Where is the Sub Registrar Office for Nallanna Mudali Street located?

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