Guideline Value for Sami MudaliStreet

Sami MudaliStreet guideline value

The current guideline value of Sami MudaliStreet is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Vepery village, under the Periamet SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sami MudaliStreet has changed

The guideline value for Sami MudaliStreet has undergone several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft. This figure increased significantly to Rs 5,500 per sq.ft in 2012, marking a 450% rise. However, it decreased to Rs 3,685 per sq.ft in 2017, which represented a 33% drop. The value then increased to Rs 5,500 per sq.ft in 2023, showing a 49% increase from the previous revision. Finally, the current guideline value is Rs 6,000 per sq.ft as per the 2024 revision, reflecting a 9% increase from 2023.

It is important to note that the register has no figures for Sami MudaliStreet for the years 2002 and 2003. Overall, from 2007 to 2024, there has been a significant increase of 500% in the guideline value.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 4,800 per sq.ft, placing Sami MudaliStreet's 2024 value above this median.

• Sami Lane: Rs 6,000 per sq.ft (2024)
• Sami nathan Gramani Street: Rs 4,800 per sq.ft (2024)
• Saminathan Kiramani lane: Rs 4,800 per sq.ft (2024)
• Sami pillai street: Rs 7,000 per sq.ft (2024)
• Salai Street: Rs 11,500 per sq.ft (2024)
• Sait Mohan lal sowcar street: Rs 4,800 per sq.ft (2024)

Stamp duty and registration fee for property in Sami MudaliStreet

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000. Together, the total cost for these fees would be Rs 5,40,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Sami MudaliStreet?

The Sub Registrar Office that covers Sami MudaliStreet is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Vepery. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the buying or selling process.

When a property is sold, the guideline value is used to calculate the stamp duty, which is charged at a percentage of the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sami MudaliStreet?

The current guideline value of Sami MudaliStreet is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting a total increase of 500% over the years.

What is the land classification of Sami MudaliStreet?

Sami MudaliStreet is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property in Sami MudaliStreet?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 60,00,000, the total fees would be Rs 5,40,000.

Which office handles registrations for Sami MudaliStreet?

The Periamet Sub Registrar Office handles registrations for Sami MudaliStreet, located at 1103, Poonamallee High Road, Chennai-600 003.