Guideline Value for Subramania Mudali Street

Subramania Mudali Street guideline value

The current guideline value of Subramania Mudali Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Residential Class II Type - I.

How the guideline value of Subramania Mudali Street has changed

The guideline value for Subramania Mudali Street has seen several revisions over the years. In 2007, the value was Rs 1,145 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, this was followed by a decrease to Rs 3,350 per sq.ft in 2017. The value then rose to Rs 5,000 per sq.ft in 2023 and currently stands at Rs 5,500 per sq.ft as of the 2024 revision. Overall, from 2007 to 2024, the guideline value has increased by 380%.

Notably, there are no figures available for the revisions in 2002 and 2003 for this street. The changes between the revisions include a 337% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft, with a median value of Rs 6,600 per sq.ft. The guideline value of Subramania Mudali Street is below this median.

• Subramania Chetty Street: Rs 5,500 per sq.ft (2024)
• Subedar Hussain Street: Rs 6,600 per sq.ft (2024)
• Subbarayan Street: Rs 6,600 per sq.ft (2024)
• Subbaraya Mudali Street: Rs 6,600 per sq.ft (2024)
• Subbaraya Chetty Street: Rs 6,600 per sq.ft (2024)
• Subramaniya Vaidiyar Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Subramania Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. 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 Subramania Mudali Street?

The Sub Registrar Office that covers Subramania Mudali Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. To find your SRO, visit find your SRO.

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

The guideline value is a critical factor in the registration process for property transactions in Triplicane. It serves as a benchmark for determining the applicable stamp duty and registration fees when buying or selling property.

When a property is registered, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Subramania Mudali Street?

The current guideline value of Subramania Mudali Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,145 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 380% over the years.

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

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office handles registrations for this street?

The Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014, handles registrations for Subramania Mudali Street.

What is the land classification for Subramania Mudali Street?

Subramania Mudali Street is classified as Residential Class II Type - I, indicating its designation for residential use within the area.