Guideline Value for SIR RAMASWAMY MUDALI STREET

Sir Ramaswamy Mudali Street guideline value

The current guideline value of Sir Ramaswamy Mudali Street is Rs 7,100 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 II Type - III.

How the guideline value of Sir Ramaswamy Mudali Street has changed

The guideline value for Sir Ramaswamy Mudali Street has undergone several revisions over the years. The 2007 revision set the value at Rs 2,800 per sq.ft, which increased significantly to Rs 6,500 per sq.ft in 2012, marking a 132% rise. However, in 2017, the value decreased to Rs 4,355 per sq.ft, a drop of 33%. The value then rose again to Rs 6,500 per sq.ft in 2023, and the most recent revision in 2024 has set the value at Rs 7,100 per sq.ft, representing a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 154%. The register has no figures for the revisions in 2002 and 2003 for this street.

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 value is Rs 5,500 per sq.ft, placing the 2024 value of Sir Ramaswamy Mudali Street above this median.

• Shiva Shanmugapuram All Blocks: Rs 3,800 per sq.ft (2024)
• Shiva Shanmugapuram 2nd Street (Marai Malai Nagar): Rs 3,800 per sq.ft (2024)
• Sheik Muhaideen Subedar Road And Lane: Rs 4,900 per sq.ft (2024)
• Solai Amman 1st Cross Street: Rs 4,900 per sq.ft (2024)
• Solai Amman Koil Lane: Rs 4,900 per sq.ft (2024)
• Solai Amman Koil Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sir Ramaswamy Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, making the total charges Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sir Ramaswamy Mudali Street?

The Sub Registrar Office that covers Sir Ramaswamy Mudali 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 crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Purasaivakkam, the guideline value is used to calculate the stamp duty and registration fees that must be paid during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of the transaction. Understanding these values ensures that all parties are informed and can plan their budgets accordingly.

Frequently asked questions

What is the current guideline value of Sir Ramaswamy Mudali Street?

The current guideline value of Sir Ramaswamy Mudali Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased significantly from Rs 2,800 per sq.ft to Rs 7,100 per sq.ft in 2024, representing an overall increase of 154%.

What is the land classification for Sir Ramaswamy Mudali Street?

Sir Ramaswamy Mudali Street is classified as Residential Class II Type - III.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Where is the Sub Registrar Office for Sir Ramaswamy Mudali Street located?

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