Guideline Value for Sudalai Muthu Street

Sudalai Muthu Street guideline value

The current guideline value of Sudalai Muthu Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, classified as Residential Class I Type - II.

How the guideline value of Sudalai Muthu Street has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 1,600 per sq.ft, marking a 7% increase from the previous year. Overall, from 2012 to 2024, there has been a 7% increase in the guideline value.

The register does not have figures for the years 2002, 2003, 2007, and 2017 for Sudalai Muthu Street. Therefore, the only revisions available for this street are from 2012, 2023, and 2024.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which is equal to the 2024 figure for Sudalai Muthu Street.

• Subbharya Chetty Street: Rs 1,600 per sq.ft (2024)
• ST. Saviour Street: Rs 1,300 per sq.ft (2024)
• Suriya Narayana Chetty 2nd Lane: Rs 2,200 per sq.ft (2024)
• Suriya Narayana Chetty 3rd Lane: Rs 2,200 per sq.ft (2024)
• Suriya Narayana Chetty Road (Beyond Kasimedu Police Station): Rs 4,900 per sq.ft (2024)
• Suriya Narayana Chetty Road (Royapuram Police Station to Kasimedu Police Station): Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sudalai Muthu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total fees Rs 1,44,000. Please 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 Sudalai Muthu Street?

The Sub Registrar Office that covers Sudalai Muthu Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a key factor in determining the stamp duty and registration fees when buying or selling property in Tondaiarpet. It serves as a benchmark for the value of the property, ensuring that the government collects appropriate taxes on property transactions.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is fair and transparent, reflecting the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sudalai Muthu Street?

The current guideline value of Sudalai Muthu Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,500 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, reflecting a 7% increase over this period. The value remained unchanged at Rs 1,500 per sq.ft in 2023.

What is the land classification of Sudalai Muthu Street?

Sudalai Muthu Street is classified as Residential Class I Type - II according to the current land classification standards.

Where can I find the Sub Registrar Office for Sudalai Muthu Street?

The Sub Registrar Office for Sudalai Muthu Street is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the stamp duty calculated for properties in Sudalai Muthu Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property with a guideline value of Rs 16,00,000, the stamp duty would be Rs 1,12,000 at 7%.