Guideline Value for Ramachandra Mudali Street

Ramachandra Mudali Street guideline value

The current guideline value of Ramachandra Mudali Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village, under the Sowcarpet SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Ramachandra Mudali Street has changed

The guideline value for Ramachandra Mudali Street has seen several revisions over the years. The earliest recorded figure is from 2003, where the value was Rs 920 per sq.ft. This increased to Rs 1,200 per sq.ft in 2007, marking a significant rise of 30%. The value then surged to Rs 4,000 per sq.ft in 2012, reflecting an increase of 233%. However, it dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%. The value was Rs 4,000 per sq.ft in 2023, before reaching the current figure of Rs 4,400 per sq.ft in the 2024 revision, which is a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 378%. It is important to note that there is no figure available for the year 2002 in the register for this street.

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 for these streets is Rs 4,400 per sq.ft, which is equal to the guideline value of Ramachandra Mudali Street.

• Ramaiahpillai Garden Street: Rs 4,400 per sq.ft (2024)
• Ramaiyer Street: Rs 3,800 per sq.ft (2024)
• Ramakrishna Street: Rs 5,500 per sq.ft (2024)
• Ramalinga Mudali Street: Rs 4,400 per sq.ft (2024)
• Ramanan Street: Rs 5,500 per sq.ft (2024)
• Ramanujam Aiyer Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Ramachandra 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 more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramachandra Mudali Street?

The Sub Registrar Office that covers Ramachandra Mudali Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering 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 appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the value of the property being exchanged. It is essential for buyers to be aware of the guideline value to ensure they are making informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of Ramachandra Mudali Street?

The current guideline value of Ramachandra 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 from Rs 920 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, an overall increase of 378% over this period.

What are the other streets in Muthiyalpet with similar guideline values?

Other streets in Muthiyalpet with similar guideline values include Ramaiahpillai Garden Street and Ramalinga Mudali Street, both at Rs 4,400 per sq.ft in 2024.

What is the stamp duty rate for properties in Ramachandra Mudali Street?

The stamp duty rate for properties in Ramachandra Mudali Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ramachandra Mudali Street?

The Sub Registrar Office for Ramachandra Mudali Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01.