Guideline Value for Rathina Mudaly Street

Rathina Mudaly Street guideline value

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

How the guideline value of Rathina Mudaly Street has changed

The guideline value for Rathina Mudaly Street has seen several revisions over the years. In 2007, the value was Rs 1,200 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, it dropped to Rs 2,680 per sq.ft in 2017. Following this, the value rose sharply to Rs 4,000 per sq.ft in 2023, and most recently, it has been revised to Rs 4,400 per sq.ft in 2024. The register has no figures for this street in 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. The 2023 to 2024 revision shows a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 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 is Rs 4,400 per sq.ft, which is the same as that of Rathina Mudaly Street. Below are other streets in Muthiyalpet:

• Rattan Bazzar Road: Rs 13,000 per sq.ft (2024)
• Ravanaiar Street: Rs 4,400 per sq.ft (2024)
• Rasappa Chetty Street: Rs 6,000 per sq.ft (2024)
• Reddy Raman Street: Rs 6,600 per sq.ft (2024)
• Rangapillai Garden Street: Rs 3,800 per sq.ft (2024)
• Reliance Rice Mill Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Rathina Mudaly 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. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Rathina Mudaly Street?

The Sub Registrar Office that covers Rathina Mudaly Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, Chennai registration zone. 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 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 state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers to consider this value, as it can affect the overall costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Rathina Mudaly Street?

The current guideline value of Rathina Mudaly 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 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 267%.

What is the median guideline value in Muthiyalpet?

The median guideline value in Muthiyalpet is Rs 4,400 per sq.ft, which is the same as the current value for Rathina Mudaly Street.

What is the stamp duty rate for properties in Rathina Mudaly Street?

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

Where is the Sub Registrar Office located for Rathina Mudaly Street?

The Sub Registrar Office for Rathina Mudaly Street is located at No.11, Davidson Street, Sowcarpet, Chennai-01, Chennai registration zone.