Guideline Value for SESHACHALAM MUDALI STREET

Seshachalam Mudali Street guideline value

The current guideline value of Seshachalam Mudali Street is Rs 8,300 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village and falls under the Thiyagaraya nagar SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Seshachalam Mudali Street has changed

The guideline value for Seshachalam Mudali Street has seen several revisions over the years. In 2002, the value was Rs 953 per sq.ft, which increased to Rs 1,057 per sq.ft in 2003. Following this, the value rose significantly to Rs 2,000 per sq.ft in 2007, and then it increased to Rs 7,500 per sq.ft in 2012. However, there was a decrease to Rs 5,025 per sq.ft in 2017. The value then rose to Rs 7,500 per sq.ft in 2023, and currently stands at Rs 8,300 per sq.ft as of the 2024 revision.

In terms of changes, the guideline value increased by 11% from 2023 to 2024. Between 2017 and 2023, there was a significant increase of 49%. The value decreased by 33% from 2012 to 2017. The increase from 2007 to 2012 was substantial at 275%, while the value rose by 89% from 2003 to 2007. From 2002 to 2024, the overall increase is 771%.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, making the 2024 value of Seshachalam Mudali Street higher than the median.

• School Road: Rs 7,700 per sq.ft (2024)
• Sathyanarayana Road: Rs 6,600 per sq.ft (2024)
• Sastri Main Road: Rs 6,600 per sq.ft (2024)
• Sastri 3 Rd Cross Street: Rs 4,400 per sq.ft (2024)
• Sastri 2 Cross Street: Rs 4,400 per sq.ft (2024)
• Sastri 1 St Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Seshachalam Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,300 per sq.ft, the total guideline value would be Rs 83,00,000. The stamp duty at 7% would amount to Rs 5,81,000, and the registration fee at 2% would be Rs 1,66,000, bringing the total to Rs 7,47,000. Please note that the 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 details.

Which Sub Registrar Office covers Seshachalam Mudali Street?

The Sub Registrar Office that covers Seshachalam Mudali Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. For more information, you can find your SRO.

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

The guideline value is an important factor in the registration process when buying or selling property in Mambalam. It helps determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to assess the minimum value for taxation purposes. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Seshachalam Mudali Street?

The current guideline value of Seshachalam Mudali Street is Rs 8,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 953 per sq.ft in 2002 to Rs 8,300 per sq.ft in 2024, marking an overall increase of 771% over the years.

What is the land classification for Seshachalam Mudali Street?

Seshachalam Mudali Street is classified as Residential Class I Type - I.

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

The Sub Registrar Office for Seshachalam Mudali Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 83,00,000 would incur a stamp duty of Rs 5,81,000 at 7%.