Guideline Value for Ramalinga Mudali Street

Ramalinga Mudali Street guideline value

The current guideline value of Ramalinga Mudali Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Ramalinga Mudali Street has changed

The guideline value for Ramalinga Mudali Street has undergone several revisions over the years. In 2003, the guideline value was Rs 920 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007. Following this, the value saw a significant rise to Rs 4,000 per sq.ft in 2012, but then decreased to Rs 2,680 per sq.ft in 2017. The 2023 revision set the value at Rs 4,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The change from 2012 to 2017 saw a decrease of 33%, while the jump from 2007 to 2012 was a remarkable 233%. The increase from 2003 to 2007 was 30%. Overall, from 2003 to 2024, the guideline value has increased by 378%. It is important to note that there is no figure available for Ramalinga Mudali Street in the 2002 revision.

Guideline values in Muthiyalpet

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

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

Stamp duty and registration fee for property in Ramalinga 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 guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramalinga Mudali Street?

The Sub Registrar Office that covers Ramalinga 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 property transactions in Muthiyalpet, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the applicable stamp duty and registration fees.

During registration, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal complications. This ensures that the government receives the appropriate taxes based on the property's value.

Frequently asked questions

What is the current guideline value of Ramalinga Mudali Street?

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

What are the stamp duty and registration fees for properties in Ramalinga Mudali Street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles the registration for Ramalinga Mudali Street?

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

What is the land classification for Ramalinga Mudali Street?

The land classification for Ramalinga Mudali Street is Residential Class I Type - I, which is typical for residential areas.