Guideline Value for Subbarayan Mudali street

Subbarayan Mudali street guideline value

The current guideline value of Subbarayan Mudali street is Rs 6,300 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO and is classified as Residential Class II Type - II.

How the guideline value of Subbarayan Mudali street has changed

The guideline value for Subbarayan Mudali street has seen several revisions over the years. In 2002, the value was Rs 534 per sq.ft, which increased to Rs 589 per sq.ft in 2003. The value then rose significantly to Rs 1,000 per sq.ft in 2007, followed by a substantial jump to Rs 5,800 per sq.ft in 2012. However, there was a decrease to Rs 3,886 per sq.ft in 2017. The value then increased to Rs 5,800 per sq.ft in 2023 before reaching the current rate of Rs 6,300 per sq.ft in 2024.

Between these revisions, notable changes occurred. From 2002 to 2003, the increase was +10%. The value then surged by +70% from 2003 to 2007. Following that, there was a remarkable increase of +480% from 2007 to 2012. The value decreased by -33% from 2012 to 2017, and then it rose by +49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects an increase of +9%. Overall, from 2002 to 2024, the guideline value has increased by +1080%.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 7,100 per sq.ft, placing Subbarayan Mudali street's 2024 figure below that median.

• Subbarayan ist lane: Rs 7,100 per sq.ft (2024)
• Subbarayan 3rd lane: Rs 7,100 per sq.ft (2024)
• Subbarayan 2nd lane: Rs 7,100 per sq.ft (2024)
• Subbaraya Gramani street: Rs 7,100 per sq.ft (2024)
• Stanley Nagar: Rs 2,800 per sq.ft (2024)
• Sulaiman Zachiariya street: Rs 8,300 per sq.ft (2024)

Stamp duty and registration fee for property in Subbarayan Mudali street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,300 per sq.ft, the total guideline value amounts to Rs 63,00,000. The stamp duty at 7% would be Rs 4,41,000, and the registration fee at 2% would be Rs 1,26,000, resulting in a total of Rs 5,67,000. It is important to note that the 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 Subbarayan Mudali street?

The Sub Registrar Office that covers Subbarayan Mudali street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

When buying or selling property in Egmore, the guideline value is a crucial factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that both parties are aware of the financial implications involved in the transaction.

The guideline value is set by the Registration Department and is regularly revised to reflect changes in the real estate market. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration of property transactions.

Frequently asked questions

What is the current guideline value of Subbarayan Mudali street?

The current guideline value of Subbarayan Mudali street is Rs 6,300 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 534 per sq.ft in 2002 to Rs 6,300 per sq.ft in 2024, with various increases and one decrease during this period.

What is the land classification of Subbarayan Mudali street?

Subbarayan Mudali street is classified as Residential Class II Type - II, indicating its suitability for residential development.

Where can I find the registration office for properties in Egmore?

The registration office for properties in Egmore is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties in Subbarayan Mudali street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 63,00,000 would incur a stamp duty of Rs 4,41,000 at 7%.