Guideline Value for Rajavelu Mudali Street

Rajavelu Mudali Street guideline value

The current guideline value of Rajavelu Mudali Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village and falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Rajavelu Mudali Street has changed

Over the years, the guideline value of Rajavelu Mudali Street has seen significant changes. The earliest recorded figure in the register is from 2002, where the value was Rs 537 per sq.ft. This figure increased to Rs 582 per sq.ft in 2003, marking an 8% rise. The value continued to grow, reaching Rs 900 per sq.ft in 2007, which was a 55% increase from the previous revision. By 2012, the value had risen to Rs 2,000 per sq.ft, reflecting a substantial 122% increase from 2007. However, this was followed by a decrease to Rs 1,340 per sq.ft in 2017, indicating a 33% drop. The value then increased again to Rs 2,000 per sq.ft in 2023, and finally, it reached Rs 2,200 per sq.ft in the 2024 revision, which is a 10% increase from 2023.

Overall, from 2002 to 2024, the guideline value has increased by 310%. It is important to note that there are no figures available for the years not listed in the register for this street.

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. The median value for these streets is Rs 2,700 per sq.ft, placing Rajavelu Mudali Street's 2024 figure below that median.

• Raja Street: Rs 1,900 per sq.ft (2024)
• Raghavan Street (George Colony): Rs 3,500 per sq.ft (2024)
• Raghavan Street: Rs 3,000 per sq.ft (2024)
• Raghavachari Street: Rs 3,800 per sq.ft (2024)
• Puzhal Munuswamy Mudali Street: Rs 1,900 per sq.ft (2024)
• Pudu Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Rajavelu Mudali Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajavelu Mudali Street?

The Sub Registrar Office that covers Rajavelu Mudali Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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 benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property transaction occurs, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajavelu Mudali Street?

The current guideline value of Rajavelu Mudali Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 537 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 310% over this period.

What is the land classification for Rajavelu Mudali Street?

The land classification for Rajavelu Mudali Street is Residential Class I Type - II.

What is the median guideline value for streets in Sembiam?

The median guideline value for the 250 streets in Sembiam under the Sembiam SRO is Rs 2,700 per sq.ft.

Where is the Sub Registrar Office for Rajavelu Mudali Street located?

The Sub Registrar Office for Rajavelu Mudali Street is located at 5, Papermills Road, Sembiam, Chennai - 600011.