Guideline Value for Samudra Mudali Street

Samudra Mudali Street guideline value

The current guideline value of Samudra Mudali Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village, under the Sowcarpet Sub Registrar Office (SRO), and is classified as Residential Class I Type - I.

How the guideline value of Samudra Mudali Street has changed

The guideline value for Samudra Mudali Street has undergone several revisions over the years. In 2007, the value was Rs 1,200 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 233%. However, from 2012 to 2017, the value decreased to Rs 2,680 per sq.ft, a drop of 33%. The value then rose again to Rs 4,000 per sq.ft in 2023, representing a 49% increase. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value, ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which is equal to the 2024 figure for Samudra Mudali Street.

• Sami Maistry Street: Rs 4,400 per sq.ft (2024)
• Sambaiyer Street: Rs 4,400 per sq.ft (2024)
• Samayapurathamman Koil Street: Rs 3,800 per sq.ft (2024)
• Sakkarai Street: Rs 4,400 per sq.ft (2024)
• Saint Xavier Street: Rs 8,800 per sq.ft (2024)
• Saravana Mudali Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Samudra 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 to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Samudra Mudali Street?

Samudra Mudali Street is covered by the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Muthiyalpet. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the guideline value to ensure they comply with the legal requirements during registration.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. 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 Samudra Mudali Street?

The current guideline value of Samudra 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 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting a significant increase of 267% over the years.

What is the land classification of Samudra Mudali Street?

Samudra Mudali Street is classified as Residential Class I Type - I, indicating its designation for residential purposes.

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

The Sowcarpet Sub Registrar Office, which covers Samudra Mudali Street, is located at No.11, Davidson Street, Sowcarpet, Chennai-01.

How is the stamp duty calculated for properties in Samudra Mudali Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at 7%.