Guideline Value for Sundara Mudali Street

Sundara Mudali Street guideline value

The current guideline value of Sundara Mudali Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village and falls under the Sowcarpet SRO, classified as Residential Special Type - III.

How the guideline value of Sundara Mudali Street has changed

The guideline value for Sundara Mudali Street has seen several revisions over the years. The earliest recorded figure is from 2003, which was Rs 1,121 per sq.ft. This increased to Rs 1,600 per sq.ft in 2007, marking a change of +43%. In 2012, the value rose significantly to Rs 4,500 per sq.ft, reflecting an increase of +181%. However, it then decreased to Rs 3,015 per sq.ft in 2017, a drop of -33%. The value further increased to Rs 4,500 per sq.ft in 2023, and finally to the current rate of Rs 4,900 per sq.ft in 2024, which is a change of +9%. The register has no figure for the year 2002.

Overall, from 2003 to 2024, the guideline value has increased by +337%. This demonstrates the fluctuations in the valuation of properties along Sundara Mudali Street over the years.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO, with guideline values for 2024 ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Sundara Mudali Street's 2024 figure above this median.

• Sunguwar Agraharam: Rs 5,500 per sq.ft (2024)
• Sudaram 5th Lane: Rs 4,400 per sq.ft (2024)
• Sudaram 4th Lane: Rs 4,400 per sq.ft (2024)
• Sudaram 3rd Lane: Rs 4,400 per sq.ft (2024)
• Sudaram 2nd Lane: Rs 4,400 per sq.ft (2024)
• Sudaram 1st Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sundara Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sundara Mudali Street?

The Sub Registrar Office that covers Sundara 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 the registration process when buying or selling property in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is used to calculate the fees, which are 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 Sundara Mudali Street?

The current guideline value of Sundara Mudali Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 1,121 per sq.ft in 2003 and reaching Rs 4,900 per sq.ft in 2024, representing an overall increase of +337% from 2003 to 2024.

What are the other streets in Muthiyalpet with their guideline values?

Other streets in Muthiyalpet include Sunguwar Agraharam at Rs 5,500 per sq.ft, and several Sudaram lanes at Rs 4,400 per sq.ft each.

What fees are applicable when registering property in Sundara Mudali Street?

When registering property, the stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2% of the guideline value.

Where can I find the Sub Registrar Office for Sundara Mudali Street?

The Sowcarpet Sub Registrar Office is located at No.11, Davidson Street, Sowcarpet, Chennai-01. This office handles registrations for properties in Sundara Mudali Street.