Guideline Value for Periyanna Mudali Street

Periyanna Mudali Street guideline value

The current guideline value of Periyanna Mudali Street is Rs 4,400 per sq.ft. This street is located in Muthiyalpet village under the Sowcarpet SRO, classified as Residential Class I Type - I.

How the guideline value of Periyanna Mudali Street has changed

Over the years, the guideline value of Periyanna Mudali Street has seen significant changes. The register shows that in 2003, the value was Rs 981 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007. Following this, the value surged to Rs 4,000 per sq.ft in 2012, but then dropped to Rs 2,680 per sq.ft in 2017. The value then rose sharply to Rs 4,000 per sq.ft in 2023, before reaching the current value of Rs 4,400 per sq.ft in 2024.

In terms of percentage changes, from 2003 to 2007, the value increased by 22%. From 2007 to 2012, there was a substantial rise of 233%. However, the value decreased by 33% from 2012 to 2017. The value then saw a significant increase of 49% from 2017 to 2023, and finally, there was a 10% rise from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 349%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO with a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, which is equal to the current guideline value of Periyanna Mudali Street.

• Periya Neikaran Street: Rs 4,400 per sq.ft (2024)
• Pattu Rasappan Street: Rs 4,400 per sq.ft (2024)
• Pattabirama Aiyer Street: Rs 4,400 per sq.ft (2024)
• Periya Udhandi Street: Rs 5,500 per sq.ft (2024)
• Perumal Chetty Street: Rs 3,800 per sq.ft (2024)
• Perumal Koil Garden: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Periyanna Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periyanna Mudali Street?

The Sub Registrar Office that covers Periyanna Mudali Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. 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 crucial factor in the registration of property transactions in Muthiyalpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the worth of the property based on the prevailing rates in the area. It is essential for buyers and sellers to be aware of these values to ensure a smooth transaction process.

Frequently asked questions

What is the current guideline value of Periyanna Mudali Street?

The current guideline value of Periyanna Mudali Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with an increase from Rs 981 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 349% over this period.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,96,000.

Which office handles property registration for Periyanna Mudali Street?

The Sowcarpet Sub Registrar Office handles property registration for Periyanna Mudali Street, located at No.11, Davidson Street, Sowcarpet, Chennai-01.

What is the median guideline value for streets in Muthiyalpet?

The median guideline value for streets in Muthiyalpet is Rs 4,400 per sq.ft, which is the same as the current value for Periyanna Mudali Street.