Guideline Value for SANTHIAPPA MUDALI 2ND STREET

Santhiappa Mudali 2nd Street guideline value

The current guideline value of Santhiappa Mudali 2nd Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Santhiappa Mudali 2nd Street has changed

The guideline value for Santhiappa Mudali 2nd Street has undergone several revisions over the years. The 2007 revision recorded a value of Rs 1,100 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in the 2012 revision. However, this value decreased to Rs 3,350 per sq.ft in the 2017 revision. Following this, the 2023 revision saw an increase to Rs 5,000 per sq.ft, and the current 2024 revision has raised it further to Rs 5,500 per sq.ft.

In summary, from 2017 to 2023, there was a notable increase of 49%, and from 2023 to 2024, the guideline value increased by 10%. Overall, from the 2007 revision to the 2024 revision, the guideline value has risen by 400%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO, with guideline values 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 the same as the current value for Santhiappa Mudali 2nd Street.

• Santhiappa Mudali 1st 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 2nd 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 amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total cost for these fees Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Santhiappa Mudali 2nd Street?

The Sub Registrar Office that covers Santhiappa Mudali 2nd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property in Purasaivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the financial implications of the transaction. It is essential for buyers and sellers to be aware of the current guideline value to make informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of Santhiappa Mudali 2nd Street?

The current guideline value of Santhiappa Mudali 2nd 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 from Rs 1,100 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting a total increase of 400% over the years.

What is the stamp duty rate for properties in Santhiappa Mudali 2nd Street?

The stamp duty rate for properties in Santhiappa Mudali 2nd Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Santhiappa Mudali 2nd Street?

The Sub Registrar Office for Santhiappa Mudali 2nd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Santhiappa Mudali 2nd Street?

Santhiappa Mudali 2nd Street is classified as Residential Class III Type - I, indicating its designation for residential purposes.