Guideline Value for SUBRAMANIA MUDALI STREET

Subramania Mudali Street guideline value

The current guideline value of Subramania Mudali Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Subramania Mudali Street has changed

The guideline value for Subramania Mudali Street has seen several revisions over the years. In 2002, the value was Rs 633 per sq.ft, which increased to Rs 729 per sq.ft in 2003, marking a change of +15%. The value continued to rise significantly, reaching Rs 1,500 per sq.ft in 2007, an increase of +106%. Following this, the value jumped to Rs 4,000 per sq.ft in 2012, representing a substantial increase of +167%. However, from 2012 to 2017, the value decreased by -33% to Rs 2,680 per sq.ft. The value then rose again to Rs 4,000 per sq.ft in 2023, and most recently, it has increased to Rs 4,400 per sq.ft in 2024, reflecting a change of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +595%. There are no figures available for the revisions in years not listed in the register for this street.

Guideline values in Saidapet

In Saidapet, there are 52 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 8,250 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Subramania Mudali Street's 2024 figure above this median.

• Subramaniyasamy Koil Street: Rs 4,950 per sq.ft (2024)
• Teacher Ramachandran Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Teacher Ramachandran Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Teacher Ramachandran Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Sembada Street: Rs 2,750 per sq.ft (2024)
• Vaniyar Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Subramania Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees together to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subramania Mudali Street?

The Sub Registrar Office that covers Subramania Mudali Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Saidapet. It is used to determine the stamp duty and registration fees applicable to the transaction. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

When you register a property, it is essential to be aware of the guideline value as it directly affects the overall cost of the transaction. Buyers and sellers should always check the latest guideline values to ensure they are informed about the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Subramania Mudali Street?

The current guideline value of Subramania Mudali Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 633 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +595% over the years.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 44,00,000, the total fees would be Rs 3,96,000.

Which office handles the registration for Subramania Mudali Street?

The Chennai South Joint I Sub Registrar Office handles the registration for Subramania Mudali Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the median guideline value for streets in Saidapet?

The median guideline value for the 52 streets in Saidapet under the Chennai South Joint I SRO is Rs 3,300 per sq.ft, with Subramania Mudali Street's value being above this median.