Guideline Value for Subramaniya Mudali Street (Muthurangam Block)

Subramaniya Mudali Street (Muthurangam Block) guideline value

The current guideline value of Subramaniya Mudali Street (Muthurangam Block) is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Subramaniya Mudali Street (Muthurangam Block) has changed

The guideline value for Subramaniya Mudali Street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,210 per sq.ft, which increased significantly to Rs 3,750 per sq.ft in 2012. However, it then decreased to Rs 2,512 per sq.ft in 2017. The value saw a substantial rise to Rs 3,750 per sq.ft again in 2023, before reaching the current value of Rs 4,100 per sq.ft in 2024. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 was 9%. Overall, from 2007 to 2024, there has been a remarkable increase of 239% in the guideline value for this street.

Guideline values in Kodambakkam

Kodambakkam has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing the 2024 guideline value of Subramaniya Mudali Street below this median.

• Subramaniyan 8th Street Block 17: Rs 4,100 per sq.ft (2024)
• Subramaniyam (Street) Block 82, 93: Rs 4,100 per sq.ft (2024)
• Subramaniya Iyyer Street(Vivekanandapuran 2nd, 3rd Street): Rs 6,600 per sq.ft (2024)
• Subramaniyan Street (Salai): Rs 4,100 per sq.ft (2024)
• Subramaniya Siva Street(3rd Street): Rs 3,300 per sq.ft (2024)
• Subramania Samy Koil Street(Othavadai Street): Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Subramaniya Mudali Street (Muthurangam Block)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total fees to Rs 3,69,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subramaniya Mudali Street (Muthurangam Block)?

The Sub Registrar Office that covers Subramaniya Mudali Street (Muthurangam Block) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable taxes and fees. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Subramaniya Mudali Street?

The current guideline value of Subramaniya Mudali Street (Muthurangam Block) is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,210 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, reflecting an overall increase of 239% over the years.

What is the median guideline value in Kodambakkam?

The median guideline value in Kodambakkam is Rs 4,900 per sq.ft, while the guideline value of Subramaniya Mudali Street is below this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 41,00,000, the stamp duty would be Rs 2,87,000, and the registration fee would be Rs 82,000, totaling Rs 3,69,000.

Where is the Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.