Guideline Value for Namasivaya Mudali Street

Namasivaya Mudali Street guideline value

The current guideline value for Namasivaya Mudali Street in Tondaiarpet village, under the Royapuram SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - I.

How the guideline value of Namasivaya Mudali Street has changed

The guideline value for Namasivaya Mudali Street has seen several revisions over the years. In 2007, the guideline value was Rs 800 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a 150% rise. However, it then decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 175%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. Namasivaya Mudali Street's current guideline value of Rs 2,200 per sq.ft is above this median.

• Nammaiah Street: Rs 2,700 per sq.ft (2024)
• Nainiappan Thottam Street: Rs 2,200 per sq.ft (2024)
• Nainiappan Thottam 6th Lane: Rs 2,200 per sq.ft (2024)
• Nainiappan Thottam 5th Lane: Rs 2,200 per sq.ft (2024)
• Nainiappan Thottam 4th Lane: Rs 2,200 per sq.ft (2024)
• Nainiappan Thottam 3rd Lane: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Namasivaya Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total charges Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Namasivaya Mudali Street?

The Sub Registrar Office that covers Namasivaya Mudali Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for additional information.

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

The guideline value is a critical factor in the registration process for property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value will influence the financial obligations related to the transaction. Buyers should be aware that the stamp duty and registration fees will be calculated based on the higher of the guideline value or the sale price, which can significantly affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Namasivaya Mudali Street?

The current guideline value of Namasivaya Mudali Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 175% over the years.

What are the other streets in Tondaiarpet with similar guideline values?

Other streets in Tondaiarpet with similar guideline values include Nainiappan Thottam Street, Nainiappan Thottam 6th Lane, Nainiappan Thottam 5th Lane, Nainiappan Thottam 4th Lane, and Nainiappan Thottam 3rd Lane, all valued at Rs 2,200 per sq.ft in 2024.

What is the stamp duty rate applicable in Tondaiarpet?

The stamp duty rate applicable in Tondaiarpet is 7% of the guideline value or sale price, whichever is higher.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the Royapuram Sub Registrar Office located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021, or by using the online find your SRO tool.