Guideline Value for SUNDARAM MUDALI MAIN ROAD

Sundaram Mudali Main Road guideline value

The current guideline value of Sundaram Mudali Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Sundaram Mudali Main Road has changed

The guideline value for Sundaram Mudali Main Road has seen significant changes over the years. In 2002, the guideline value was Rs 420 per sq.ft, which increased to Rs 461 per sq.ft in 2003, marking a 10% rise. By 2007, it further increased to Rs 550 per sq.ft, reflecting a 19% change from the previous revision. However, there are no figures available for the years 2012 and 2017. The next revision occurred in 2023, where the value reached Rs 2,000 per sq.ft, a notable increase of 264% from 2007. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is a 10% increase from 2023.

Overall, from 2002 to 2024, the guideline value has risen by 424%, showcasing a substantial increase over the years. The current value of Rs 2,200 per sq.ft is below the median value of Rs 2,700 per sq.ft for 1114 streets in Perambur under the Purasaivakkam SRO.

Guideline values in Perambur

In Perambur, the guideline values for various streets range from Rs 1,600 to Rs 7,100 per sq.ft as of 2024. Sundaram Mudali Main Road's current value is below the median of Rs 2,700 per sq.ft. Below are the guideline values for other streets in Perambur:

• Sundaram Mudali Hut Area: Rs 2,200 per sq.ft (2024)
• Sundaram Mudali Cross Street: Rs 2,200 per sq.ft (2024)
• Sundaram Mudali 6th Street: Rs 2,200 per sq.ft (2024)
• Sundaram Mudali 5th Street: Rs 2,200 per sq.ft (2024)
• Sundaram Mudali 4th Street: Rs 2,200 per sq.ft (2024)
• Sundaram Mudali 3rd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sundaram Mudali Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these fees Rs 1,98,000. It is important to note that the 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 more details.

Which Sub Registrar Office covers Sundaram Mudali Main Road?

The Sub Registrar Office that covers Sundaram Mudali Main Road 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

The guideline value plays a crucial role in the registration process of property transactions in Perambur. It serves as a benchmark for determining the minimum value at which property can be registered. Buyers and sellers must adhere to this value to ensure compliance with local regulations.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sundaram Mudali Main Road?

The current guideline value of Sundaram Mudali Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 420 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 424% over the years.

What are the other streets in Perambur with the same guideline value?

Other streets in Perambur with the same guideline value of Rs 2,200 per sq.ft include Sundaram Mudali Hut Area, Sundaram Mudali Cross Street, Sundaram Mudali 6th Street, Sundaram Mudali 5th Street, Sundaram Mudali 4th Street, and Sundaram Mudali 3rd Street.

How is stamp duty calculated for properties in Sundaram Mudali Main Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft property at the current rate, the stamp duty would be Rs 1,54,000.

Where can I find the Sub Registrar Office for Sundaram Mudali Main Road?

The Sub Registrar Office for Sundaram Mudali Main Road is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.