Guideline Value for Paramanatha Mudali Street

Paramanatha Mudali Street guideline value

The current guideline value of Paramanatha Mudali Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, and the land classification is Residential Special Type - III.

How the guideline value of Paramanatha Mudali Street has changed

The guideline value for Paramanatha Mudali Street has undergone several revisions over the years. In 2003, the guideline value was Rs 1,151 per sq.ft. This increased to Rs 1,600 per sq.ft in 2007, marking a 39% rise. The value then saw a significant jump to Rs 4,500 per sq.ft in 2012, which was an increase of 181%. However, it dropped to Rs 3,015 per sq.ft in 2017, reflecting a decrease of 33%. The 2023 revision set the value at Rs 4,500 per sq.ft, leading to a 49% increase before the current value of Rs 4,900 per sq.ft was established in 2024, which is a 9% rise.

It is important to note that there are no figures available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 326%.

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 value is Rs 4,400 per sq.ft, placing Paramanatha Mudali Street's 2024 figure above this median.

• Paramasiva Chetty Street: Rs 4,400 per sq.ft (2024)
• Pannaikaran Andiappan Street: Rs 3,800 per sq.ft (2024)
• Parrys Venkatachalam Aiyer Street: Rs 6,000 per sq.ft (2024)
• Palliyappan Street: Rs 4,400 per sq.ft (2024)
• Palliyappan Lane: Rs 4,400 per sq.ft (2024)
• Pattabirama Aiyer Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Paramanatha Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees together to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Paramanatha Mudali Street?

The Sub Registrar Office that covers Paramanatha 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 critical component during the registration of property transactions in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in this area.

When a property is registered, the guideline value is used to calculate the applicable fees, which are based on the higher amount between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Paramanatha Mudali Street?

The current guideline value of Paramanatha Mudali Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with the most recent increase being 9% from Rs 4,500 per sq.ft in 2023 to Rs 4,900 per sq.ft in 2024. Overall, the value has increased by 326% from 2003 to 2024.

What is the land classification for Paramanatha Mudali Street?

The land classification for Paramanatha Mudali Street is Residential Special Type - III. This classification affects the guideline value and the type of developments allowed in the area.

Where can I find the Sub Registrar Office for this street?

The Sowcarpet Sub Registrar Office covers Paramanatha Mudali Street and 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 higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 49,00,000, the stamp duty at 7% would be Rs 3,43,000.