Guideline Value for Seenu Mudali Street

Seenu Mudali Street guideline value

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

How the guideline value of Seenu Mudali Street has changed

The guideline value for Seenu Mudali Street has seen several revisions over the years. In 2003, the value was Rs 1,054 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007, marking a rise of 14%. By 2012, the value reached Rs 4,000 per sq.ft, a significant increase of 233%. However, it then decreased by 33% to Rs 2,680 per sq.ft in 2017. The value further increased by 49% to Rs 4,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

The register has no figure for the year 2002 for this street. Overall, from 2003 to 2024, the guideline value increased by 317%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO with a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the current guideline value of Seenu Mudali Street.

• Seenu Aiyer Street: Rs 4,400 per sq.ft (2024)
• Seenivasa Aiyer Street: Rs 6,000 per sq.ft (2024)
• Seshan Street: Rs 4,900 per sq.ft (2024)
• Seven Wells Street: Rs 4,900 per sq.ft (2024)
• Saravana Mudali Street: Rs 4,400 per sq.ft (2024)
• Shanmuga Mudali Lane: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Seenu 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 is Rs 44,00,000. The stamp duty at 7% amounts to Rs 3,08,000, and the registration fee at 2% is Rs 88,000, totaling Rs 3,96,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Seenu Mudali Street?

The Sub Registrar Office that covers Seenu Mudali Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Muthiyalpet. It determines the minimum value at which the property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is crucial to be aware of the guideline value, as it can influence negotiations and the overall transaction process. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Seenu Mudali Street?

The current guideline value of Seenu 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 significantly, from Rs 1,054 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, representing an overall increase of 317%.

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

For a property valued at Rs 44,00,000, the stamp duty is Rs 3,08,000 and the registration fee is Rs 88,000, totaling Rs 3,96,000.

Which office handles the registration for Seenu Mudali Street?

The Sowcarpet Sub Registrar Office at No.11, Davidson Street, Sowcarpet, Chennai-01 handles the registration for Seenu Mudali Street.

What is the land classification of Seenu Mudali Street?

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