Guideline Value for Office Venkatachala Mudali St

Office Venkatachala Mudali St guideline value

The current guideline value of Office Venkatachala Mudali St is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Office Venkatachala Mudali St has changed

The guideline value for Office Venkatachala Mudali St has seen several revisions over the years. Starting from Rs 508 per sq.ft in 2002, it increased to Rs 558 per sq.ft in 2003, marking a 10% rise. The value then jumped significantly to Rs 1,650 per sq.ft in 2007, reflecting a 196% increase. By 2012, the value reached Rs 6,000 per sq.ft, showing a remarkable 264% increase from the previous revision.

The most recent revision in 2024 set the guideline value at Rs 6,600 per sq.ft, which is a 10% increase from the 2012 figure. It is important to note that there are no figures available for the years 2017 and 2023 for this street.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value is Rs 6,600 per sq.ft, which is equal to the current guideline value of Office Venkatachala Mudali St.

• Oil Monger Lane Chennai-5 & Chennai-14: Rs 6,600 per sq.ft (2024)
• Oil Monger Street Chennai-5 & Chennai-14: Rs 6,600 per sq.ft (2024)
• Ovuliya Saheb 1st Lane: Rs 5,500 per sq.ft (2024)
• Ovuliya Saheb 2nd Lane: Rs 5,500 per sq.ft (2024)
• Ovuliya Saheb 3rd Lane: Rs 5,500 per sq.ft (2024)
• Ovuliya Saheb 4th Lane: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Office Venkatachala Mudali St

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total cost for these fees to Rs 5,94,000. Please 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 Office Venkatachala Mudali St?

The Sub Registrar Office that covers Office Venkatachala Mudali St is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Triplicane. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees that need to be paid. It ensures that the transaction is recorded accurately and fairly in the official registry.

Additionally, the guideline value helps in assessing the market value of properties in the area. Buyers and sellers can refer to these values to make informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of Office Venkatachala Mudali St?

The current guideline value of Office Venkatachala Mudali St is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 508 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 1199% over the years.

What are the stamp duty and registration fees for this property?

For a property valued at Rs 66,00,000, the stamp duty is Rs 4,62,000 and the registration fee is Rs 1,32,000, totaling Rs 5,94,000.

Which Sub Registrar Office is responsible for this area?

The Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014, is responsible for Office Venkatachala Mudali St.

Are there other streets with the same guideline value in Triplicane?

Yes, there are other streets in Triplicane with the same guideline value of Rs 6,600 per sq.ft, including Oil Monger Lane and Oil Monger Street.