Guideline Value for SANTHIAPPA MUDALI 1ST STREET

Santhiappa Mudali 1st Street guideline value

The current guideline value of Santhiappa Mudali 1st Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Santhiappa Mudali 1st Street has changed

The guideline value for Santhiappa Mudali 1st Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,100 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a 355% rise. However, from 2012 to 2017, the value decreased to Rs 3,350 per sq.ft, a drop of 33%. The value then rose to Rs 5,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 5,500 per sq.ft, which is a 10% increase from 2023.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 400%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value is Rs 5,500 per sq.ft, which is equal to the 2024 figure for Santhiappa Mudali 1st Street.

• Santhiappa Mudali 2nd Street: Rs 5,500 per sq.ft (2024)
• Santhiappa Mudali 3rd Street: Rs 5,500 per sq.ft (2024)
• Santhiappa Mudali Main Street: Rs 5,500 per sq.ft (2024)
• Santhiappa Road: Rs 5,500 per sq.ft (2024)
• Santhiappa Street Extension: Rs 5,500 per sq.ft (2024)
• Sanyasipuram 1st Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Santhiappa Mudali 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total fees together Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Santhiappa Mudali 1st Street?

The Sub Registrar Office that covers Santhiappa Mudali 1st Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it directly impacts the stamp duty and registration fees applicable during the transaction.

When registering a property, the guideline value is used to calculate the necessary fees, ensuring that all transactions comply with state regulations. Therefore, understanding the guideline value is essential for anyone looking to buy or sell property in this area.

Frequently asked questions

What is the current guideline value of Santhiappa Mudali 1st Street?

The current guideline value of Santhiappa Mudali 1st Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, increasing from Rs 1,100 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, an overall increase of 400%.

What is the land classification for Santhiappa Mudali 1st Street?

The land classification for Santhiappa Mudali 1st Street is Residential Class III Type - I.

Where is the Sub Registrar Office for this street located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at a rate of 7%.