Guideline Value for Shanmuga Mudali Street

Shanmuga Mudali Street guideline value

The current guideline value of Shanmuga Mudali Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO, classified as Residential Class II Type - I.

How the guideline value of Shanmuga Mudali Street has changed

The guideline value for Shanmuga Mudali Street has seen revisions over the years. As per the register, there are no figures available for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 7,000 per sq.ft, which increased to Rs 7,700 per sq.ft in the 2024 revision, marking a 10% rise.

In summary, the guideline value changed from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024. This increase reflects the latest adjustments made in the guideline value register.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are a total of 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, positioning Shanmuga Mudali Street's 2024 figure below this median.

• Seshadri Road: Rs 14,300 per sq.ft (2024)
• Selvammal Street: Rs 7,700 per sq.ft (2024)
• Seethamma Road Extention: Rs 13,200 per sq.ft (2024)
• Seethamma Road: Rs 13,200 per sq.ft (2024)
• Seethammal Lane: Rs 13,200 per sq.ft (2024)
• Seethammal Extention 2nd Main Road: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Shanmuga Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, totaling Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shanmuga Mudali Street?

The Sub Registrar Office that covers Shanmuga Mudali Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value plays a crucial role during the registration of properties in Mylapore Part 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for taxation purposes.

When buying or selling property, the guideline value is referenced to calculate applicable duties and fees, which are essential for the legal transfer of ownership. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Shanmuga Mudali Street?

The current guideline value of Shanmuga Mudali Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values for other streets in Mylapore Part 1?

Other streets in Mylapore Part 1 have varying guideline values, with rates ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000, and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000. Duty is charged on the higher of the guideline value or the sale price.

Which office handles the registration for Shanmuga Mudali Street?

The registration for Shanmuga Mudali Street is handled by the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.