Guideline Value for SUBRAMANIA MUDALI STREET

Subramania Mudali Street guideline value

The current guideline value of Subramania Mudali Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village and falls under the Chennai South Joint II 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 undergone several revisions over the years. In 2002, the value was Rs 591 per sq.ft, which increased to Rs 766 per sq.ft in 2003, marking a change of +30%. The value continued to rise significantly, reaching Rs 1,429 per sq.ft in 2007, an increase of +87%. However, from 2007 to 2012, the value decreased to Rs 4,500 per sq.ft, reflecting a decline of -33%. The value then saw a substantial increase to Rs 3,015 per sq.ft in 2017, which was a +49% change from the previous revision. In 2023, the guideline value was Rs 4,500 per sq.ft, and it has now risen to Rs 4,950 per sq.ft in 2024, which is a +10% increase.

Overall, from 2002 to 2024, the guideline value has increased by +738%. The register has no figure for the years not mentioned in the revisions.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Subramania Mudali Street's 2024 figure above that median.

• Subramania Swamy Koil Street: Rs 4,950 per sq.ft (2024)
• Sundaraswarar Koil 1st Lane: Rs 4,400 per sq.ft (2024)
• Sundaraswarar Koil 2nd Lane: Rs 4,400 per sq.ft (2024)
• Sundaraswarar Koil St (A) Sowndares Warar Koil Street: Rs 4,400 per sq.ft (2024)
• Sowndareeswarar Koil Street: Rs 3,300 per sq.ft (2024)
• Thiruvalluvar Street: Rs 3,300 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 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, making the total cost for these fees Rs 4,45,500. It is important to note that 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 II 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 property transactions in Saidapet. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration norms and to calculate applicable fees.

When a property is sold, the guideline value is used to assess the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Subramania Mudali Street?

The current guideline value of Subramania Mudali Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 591 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of +738% over the years.

What is the land classification for Subramania Mudali Street?

The land classification for Subramania Mudali Street is Residential Class II Type - I.

What are the stamp duty and registration fees for properties in Subramania Mudali Street?

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 and the registration fee would be Rs 99,000, totaling Rs 4,45,500.

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

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