Guideline Value for Stratan Muthaiya Mudali Street

Stratan Muthaiya Mudali Street guideline value

The current guideline value of Stratan Muthaiya Mudali Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, classified as Residential Special Type - I.

How the guideline value of Stratan Muthaiya Mudali Street has changed

Over the years, the guideline value of Stratan Muthaiya Mudali Street has seen significant changes. The 2007 revision recorded a value of Rs 2,000 per sq.ft, which increased to Rs 5,500 per sq.ft in 2012, marking a substantial rise of 175%. However, from 2012 to 2017, the value decreased to Rs 3,685 per sq.ft, a drop of 33%. The value then rose again to Rs 5,500 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 6,000 per sq.ft, representing a 9% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 200%.

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, placing Stratan Muthaiya Mudali Street's 2024 figure above that median.

• Stringer Street (Broadway): Rs 8,800 per sq.ft (2024)
• Stringer Street (Walltax Road): Rs 6,000 per sq.ft (2024)
• Subbaraya Naicken Lane: Rs 6,600 per sq.ft (2024)
• Subbaraya Pillai Street: Rs 4,400 per sq.ft (2024)
• Subbu Chetty Street: Rs 4,400 per sq.ft (2024)
• Subramani Chetty Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Stratan Muthaiya Mudali Street

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, totaling Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Stratan Muthaiya Mudali Street?

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

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

The guideline value is a crucial factor during property transactions in Muthiyalpet, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value for calculating applicable stamp duty and registration fees.

When a property is sold, the guideline value serves as a reference point for the registration process. It ensures that the transaction is recorded at a value that reflects the local market conditions as established by the Registration Department.

Frequently asked questions

What is the current guideline value of Stratan Muthaiya Mudali Street?

The current guideline value of Stratan Muthaiya Mudali Street 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 significantly, from Rs 2,000 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting a total increase of 200% over this period.

What is the land classification for Stratan Muthaiya Mudali Street?

Stratan Muthaiya Mudali Street is classified as Residential Special Type - I, which influences its guideline value and potential uses.

Where can I find the registration office for this street?

The registration office for Stratan Muthaiya Mudali Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01.

How is stamp duty calculated for properties in Muthiyalpet?

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 60,00,000 would incur a stamp duty of Rs 4,20,000 at a rate of 7%.