Guideline Value for SONACHALA MUDALI STREET

Sonachala Mudali Street guideline value

The current guideline value of Sonachala Mudali Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class IV Type - III.

How the guideline value of Sonachala Mudali Street has changed

The guideline value for Sonachala Mudali Street has seen several revisions over the years. In 2002, the value was Rs 699 per sq.ft, which increased to Rs 777 per sq.ft in 2003, marking an increase of 11%. The value continued to rise significantly to Rs 1,540 per sq.ft in 2007, a change of 98%. From 2007 to 2012, the guideline value surged to Rs 6,500 per sq.ft, reflecting a substantial increase of 322%. The value remained unchanged at Rs 6,500 per sq.ft from 2012 until the next revision in 2023.

In 2023, the guideline value was revised to Rs 6,500 per sq.ft, and subsequently increased to Rs 7,100 per sq.ft in 2024, representing a 9% increase. Notably, there is no figure available for the 2017 revision for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a guideline value for 2024, ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value of Sonachala Mudali Street is below this median.

• Soorsa Makkan 1st & 11th Lane: Rs 3,300 per sq.ft (2024)
• South Canal Bank Road: Rs 7,100 per sq.ft (2024)
• South Canal Bank Road 2nd Street: Rs 4,900 per sq.ft (2024)
• Solaiyappan Street: Rs 8,200 per sq.ft (2024)
• South Kesavaperumalpuram 1st Cross Street: Rs 8,800 per sq.ft (2024)
• South Kesavaperumalpuram 1st Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Sonachala Mudali Street

For a 1,000 sq.ft plot at the current rate of Rs 7,100 per sq.ft, the 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, totaling Rs 6,39,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sonachala Mudali Street?

The Sub Registrar Office that covers Sonachala Mudali Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Mylapore, as it determines the minimum value at which a property can be registered. This value is used by the registration authorities to calculate the stamp duty and registration fees applicable to the transaction.

When you register a property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sonachala Mudali Street?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 699 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 916% over the years.

What is the stamp duty on property in Sonachala Mudali Street?

The stamp duty on property in Sonachala Mudali Street is 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office is responsible for this street?

The Mylapore Sub Registrar Office is responsible for Sonachala Mudali Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

Are there other streets in Mylapore with different guideline values?

Yes, there are several other streets in Mylapore with varying guideline values, ranging from Rs 3,300 to Rs 25,800 per sq.ft as per the 2024 revision.