Guideline Value for THIRUMALAYAPPA MUDALI STREET

Thirumalayappa Mudali Street guideline value

The current guideline value of Thirumalayappa Mudali Street is Rs 6,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village under the Purasaivakkam SRO, classified as Residential Class II Type - II.

How the guideline value of Thirumalayappa Mudali Street has changed

Over the years, the guideline value of Thirumalayappa Mudali Street has seen several revisions. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in the 2012 revision, marking a 233% rise. However, in the 2017 revision, the value fell to Rs 4,020 per sq.ft, a decrease of 33% from the previous revision. The 2023 revision saw a return to Rs 6,000 per sq.ft, followed by an increase to Rs 6,500 per sq.ft in the 2024 revision, which is an 8% rise.

From the 2017 revision to the 2023 revision, there was a substantial increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 261%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value in this area is Rs 5,500 per sq.ft, placing Thirumalayappa Mudali Street's 2024 figure above this median.

• Thiru Narayana Guru Salai (A) Hunters Road: Rs 12,100 per sq.ft (2024)
• Thandavarayan Street: Rs 7,100 per sq.ft (2024)
• Thandavan Achary Street: Rs 7,100 per sq.ft (2024)
• Thana Street(A) Kanthappa Mudali High Road: Rs 9,900 per sq.ft (2024)
• Thambuswamy Street & Road: Rs 13,200 per sq.ft (2024)
• Thakar Street: Rs 6,500 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalayappa Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,500 per sq.ft, the total guideline value would be Rs 65,00,000. The stamp duty at 7% would amount to Rs 4,55,000, and the registration fee at 2% would be Rs 1,30,000, bringing the total to Rs 5,85,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thirumalayappa Mudali Street?

The Sub Registrar Office that covers Thirumalayappa Mudali Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Purasaivakkam. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that all property transactions are fairly assessed and recorded.

Frequently asked questions

What is the current guideline value of Thirumalayappa Mudali Street?

The current guideline value of Thirumalayappa Mudali Street is Rs 6,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 6,500 per sq.ft in 2024, reflecting an overall increase of 261% over this period.

What is the stamp duty for property in Thirumalayappa Mudali Street?

The stamp duty for property in Thirumalayappa Mudali Street is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would be Rs 4,55,000 based on the current guideline value.

Which Sub Registrar Office handles transactions for this street?

The Purasaivakkam Sub Registrar Office handles transactions for Thirumalayappa Mudali Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Thirumalayappa Mudali Street?

Thirumalayappa Mudali Street is classified as Residential Class II Type - II, which indicates its suitability for residential development.