Guideline Value for SREENIVASAN MUDALI STREET

Sreenivasan Mudali Street guideline value

The current guideline value of Sreenivasan Mudali Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Sreenivasan Mudali Street has changed

Over the years, the guideline value of Sreenivasan Mudali Street has seen significant changes. In the 2007 revision, the value was Rs 800 per sq.ft, which increased dramatically to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017. The value then rose to Rs 3,500 per sq.ft in 2023, before reaching the current value of Rs 3,800 per sq.ft in 2024. The register has no figure for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%. The jump from 2012 to 2017 was a decrease of 33%, while the increase from 2007 to 2012 was a significant 338%. Overall, from 2007 to 2024, the guideline value has increased by 375%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, placing Sreenivasan Mudali Street above this median.

• Sreenivasa Achary Street: Rs 4,300 per sq.ft (2024)
• Somasundara Nagar: Rs 3,200 per sq.ft (2024)
• Somasundaram Nagar Main Road: Rs 3,200 per sq.ft (2024)
• Somasundaram Nagar 2nd Street: Rs 3,200 per sq.ft (2024)
• Somasundaram Nagar 1st Street: Rs 3,200 per sq.ft (2024)
• Slum Clearance Board Quarters: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sreenivasan Mudali Street

For a 1,000 sq.ft plot at the current guideline value, the total value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, totaling Rs 3,42,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sreenivasan Mudali Street?

The Sub Registrar Office that covers Sreenivasan 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 Perambur

When buying or selling property in Perambur, the guideline value is a crucial factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

Buyers and sellers must be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the transaction is registered accurately in accordance with the prevailing regulations.

Frequently asked questions

What is the current guideline value of Sreenivasan Mudali Street?

The current guideline value of Sreenivasan Mudali Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 800 per sq.ft in 2007, reaching Rs 3,500 in 2012, decreasing to Rs 2,345 in 2017, then rising to Rs 3,500 in 2023, and finally to Rs 3,800 in 2024.

What is the land classification of Sreenivasan Mudali Street?

Sreenivasan Mudali Street is classified as Residential Class II Type - II, which is a designation for residential properties in the area.

What are the other streets in Perambur with their guideline values?

Other streets in Perambur include Sreenivasa Achary Street at Rs 4,300 per sq.ft, Somasundara Nagar at Rs 3,200 per sq.ft, and several others, all with their respective guideline values as noted in the register.

Where is the Sub Registrar Office for Sreenivasan Mudali Street located?

The Sub Registrar Office for Sreenivasan Mudali Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, under the Purasaivakkam registration zone.