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 2 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Shanmuga Mudali Street has changed

The guideline value for Shanmuga Mudali Street has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 7,700 per sq.ft, an increase of 10% from the 2023 revision, which was Rs 7,000 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

In summary, the guideline value increased from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024. This change reflects the latest assessment of property values in the area.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 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 guideline value for these streets is Rs 8,800 per sq.ft, indicating that the guideline value of Shanmuga Mudali Street is 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 would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000. Together, the total charges would be Rs 6,93,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

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 information.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value plays a crucial role in the registration process of property transactions in Mylapore Part 2. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction. This helps maintain transparency in property dealings.

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 much has the guideline value changed recently?

The guideline value increased from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024, marking a 10% increase.

What is the land classification for Shanmuga Mudali Street?

Shanmuga Mudali Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for this street?

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

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It serves as a benchmark for these financial obligations, ensuring transparency in the buying and selling process.