Guideline Value for Subramaniya Mudali Street

Subramaniya Mudali Street guideline value

The current guideline value of Subramaniya Mudali Street is Rs 4,400 per sq.ft. This street is located in Muthiyalpet village, under the Sowcarpet SRO, and is classified as Residential Class I Type - I.

How the guideline value of Subramaniya Mudali Street has changed

The guideline value for Subramaniya Mudali Street has seen significant changes over the years. In 2003, the value was Rs 1,010 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007, marking a 19% rise. The value then jumped to Rs 4,000 per sq.ft in 2012, representing a remarkable 233% increase. However, it faced a decline to Rs 2,680 per sq.ft in 2017, a decrease of 33% from the previous revision. The value rose again to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft from the 2024 revision, reflecting a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 336%. It is important to note that there is no figure available for the year 2002 in the register for this street.

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, which is the same as the current value for Subramaniya Mudali Street.

• Subramani Chetty Street: Rs 4,400 per sq.ft (2024)
• Subramani Chetty Lane: Rs 4,400 per sq.ft (2024)
• Sudaram 1st Lane: Rs 4,400 per sq.ft (2024)
• Sudaram 2nd Lane: Rs 4,400 per sq.ft (2024)
• Sudaram 3rd Lane: Rs 4,400 per sq.ft (2024)
• Sudaram 4th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Subramaniya Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subramaniya Mudali Street?

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

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

The guideline value is a crucial factor in determining the stamp duty and registration fees when buying or selling property in Muthiyalpet. It serves as a reference point for the valuation of properties and is used by the registration department to calculate the applicable fees.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the stamp duty. This ensures that the fees reflect the true value of the transaction.

Frequently asked questions

What is the current guideline value of Subramaniya Mudali Street?

The current guideline value of Subramaniya Mudali Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,010 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, showing a significant overall increase of 336% over this period.

What is the median guideline value in Muthiyalpet?

The median guideline value for streets in Muthiyalpet is Rs 4,400 per sq.ft, which is the same as the current value for Subramaniya Mudali Street.

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

The Sowcarpet Sub Registrar Office, which covers Subramaniya Mudali Street, is 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. The current rate is 7% for stamp duty and 2% for the registration fee.