Guideline Value for Perumal Mudali Street (Sowcarpet)

Perumal Mudali Street (Sowcarpet) guideline value

The current guideline value of Perumal Mudali Street (Sowcarpet) is Rs 13,000 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village and falls under the jurisdiction of the Sowcarpet SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Perumal Mudali Street (Sowcarpet) has changed

The guideline value for Perumal Mudali Street has seen several revisions over the years. In 2003, the value was Rs 4,833 per sq.ft, which increased to Rs 5,500 per sq.ft in 2007. The value then rose significantly to Rs 12,000 per sq.ft in 2012, before dropping to Rs 8,040 per sq.ft in 2017. By the 2023 revision, the value had increased to Rs 12,000 per sq.ft, and it further rose to Rs 13,000 per sq.ft in 2024, marking an 8% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 169%. The register does not contain figures for the year 2002 for this street.

Guideline values in Muthiyalpet

Muthiyalpet village has a total of 357 streets under the Sowcarpet SRO, with guideline values ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Perumal Mudali Street's 2024 figure above this median.

• Perumal Mudali Street (Kondithope): Rs 5,500 per sq.ft (2024)
• Pethu Naicken Street (Kondithope): Rs 6,000 per sq.ft (2024)
• Pethu Naicken Street (Park Town): Rs 13,000 per sq.ft (2024)
• Pidariyar Kovil 1st Lane: Rs 4,400 per sq.ft (2024)
• Pidariyar Kovil 2nd Lane: Rs 4,400 per sq.ft (2024)
• Pidariyar Kovil Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Mudali Street (Sowcarpet)

For a 1,000 sq.ft plot at the current guideline value of Rs 13,000 per sq.ft, the total guideline value amounts to Rs 1,30,00,000. The stamp duty at 7% would be Rs 9,10,000, and the registration fee at 2% would be Rs 2,60,000, bringing the total to Rs 11,70,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Perumal Mudali Street (Sowcarpet)?

The Sub Registrar Office that covers Perumal Mudali Street (Sowcarpet) 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 during property transactions in Muthiyalpet. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. Buyers should be aware that the stamp duty is calculated based on the higher value between the guideline value and the sale price.

Frequently asked questions

What is the current guideline value of Perumal Mudali Street (Sowcarpet)?

The current guideline value of Perumal Mudali Street (Sowcarpet) is Rs 13,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 4,833 per sq.ft in 2003 to Rs 13,000 per sq.ft in 2024, reflecting an overall increase of 169% over this period.

What is the land classification for Perumal Mudali Street (Sowcarpet)?

The land classification for Perumal Mudali Street (Sowcarpet) is Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for Perumal Mudali Street (Sowcarpet)?

The Sub Registrar Office for Perumal Mudali Street (Sowcarpet) is located at No.11, Davidson Street, Sowcarpet, Chennai-01.

How is the stamp duty calculated for property transactions in Muthiyalpet?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the appropriate fees are collected during property registration.