Guideline Value for Puzhal Munuswamy Mudali Street

Puzhal Munuswamy Mudali Street guideline value

The current guideline value of Puzhal Munuswamy Mudali Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Puzhal Munuswamy Mudali Street has changed

The guideline value for Puzhal Munuswamy Mudali Street has undergone several revisions over the years. The earliest recorded value was Rs 425 per sq.ft in 2002, which increased to Rs 461 per sq.ft in 2003. Following this, the value rose significantly to Rs 800 per sq.ft in 2007, marking a 74% increase. In 2012, the value remained at Rs 1,800 per sq.ft, but then saw a decrease to Rs 1,206 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 1,800 per sq.ft in 2023 before reaching the current figure of Rs 1,900 per sq.ft in 2024, which is a 6% increase.

Overall, from 2002 to 2024, the guideline value has increased by 347%. It is important to note that there are no figures available for revisions in years other than those listed.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Puzhal Munuswamy Mudali Street's 2024 figure is below this median.

• Pudu Street: Rs 1,900 per sq.ft (2024)
• Raghavachari Street: Rs 3,800 per sq.ft (2024)
• Raghavan Street: Rs 3,000 per sq.ft (2024)
• Raghavan Street (George Colony): Rs 3,500 per sq.ft (2024)
• Prakash Street: Rs 3,600 per sq.ft (2024)
• Prakash Avenue: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Puzhal Munuswamy Mudali Street

For a 1,000 sq.ft plot at the current rate of Rs 1,900 per sq.ft, the guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, totaling Rs 1,71,000. Please 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 more details.

Which Sub Registrar Office covers Puzhal Munuswamy Mudali Street?

The Sub Registrar Office that covers Puzhal Munuswamy Mudali Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sembiam. It serves as a reference point for calculating the stamp duty and registration fees that are applicable during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value. This value is used to determine the taxes owed, and it is essential for both buyers and sellers to understand how it impacts their financial obligations during the property transfer process.

Frequently asked questions

What is the current guideline value of Puzhal Munuswamy Mudali Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 425 per sq.ft in 2002 to Rs 1,900 per sq.ft in 2024, reflecting an overall increase of 347% over this period.

What are the guideline values of other streets in Sembiam?

Other streets in Sembiam have varying guideline values, with rates ranging from Rs 1,700 to Rs 7,100 per sq.ft. Puzhal Munuswamy Mudali Street is currently valued at Rs 1,900 per sq.ft.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 19,00,000, the total fees would amount to Rs 1,71,000.

Which office handles property registrations for Puzhal Munuswamy Mudali Street?

The Sembiam Sub Registrar Office handles property registrations for Puzhal Munuswamy Mudali Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.