Guideline Value for SUBRAMANYA MUDALI STREET

Subramanya Mudali Street guideline value

The current guideline value of Subramanya Mudali Street is Rs 7,100 per sq.ft, effective from the 2024 revision. 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 Subramanya Mudali Street has changed

The guideline value for Subramanya Mudali Street has seen several revisions over the years. In 2007, the value was Rs 3,300 per sq.ft, which increased to Rs 6,500 per sq.ft in 2012. However, it then decreased to Rs 4,355 per sq.ft in 2017. The value rose significantly to Rs 6,500 per sq.ft in 2023 and further increased to the current Rs 7,100 per sq.ft in 2024. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 represents a 9% increase. Overall, from 2007 to 2024, the guideline value has risen by 115%.

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 for these streets is Rs 5,500 per sq.ft, making Subramanya Mudali Street's current value above the median.

• Sudukadu Hut Area: Rs 2,200 per sq.ft (2024)
• Sundaram Pillai Lane: Rs 7,100 per sq.ft (2024)
• Sundaram Pillai Street: Rs 7,100 per sq.ft (2024)
• Subburayan Chetty All Streets: Rs 4,900 per sq.ft (2024)
• Subbiah Street: Rs 7,700 per sq.ft (2024)
• Subbarayan Chetty Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Subramanya 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, while the registration fee at 2% would be Rs 1,42,000. Together, these fees amount to Rs 6,39,000. Please note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Subramanya Mudali Street?

The Sub Registrar Office that covers Subramanya 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 plays a crucial role during property registration in Purasaivakkam. It is used to determine the stamp duty and registration fees applicable to a property transaction. Buyers and sellers should be aware that the guideline value is the baseline for calculating these fees.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions. This helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Subramanya Mudali Street?

The current guideline value of Subramanya Mudali Street is Rs 7,100 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 3,300 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 115% over the years.

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

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.

Which office handles property registrations for Subramanya Mudali Street?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, handles property registrations for Subramanya Mudali Street.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that properties are registered at a fair value, reflecting the current market conditions.