Guideline Value for Teynampet Ramasamy Mudaly Street

Teynampet Ramasamy Mudaly Street guideline value

The current guideline value for Teynampet Ramasamy Mudaly Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, classified as Residential Class I Type - I.

How the guideline value of Teynampet Ramasamy Mudaly Street has changed

The guideline value for Teynampet Ramasamy Mudaly Street has undergone several revisions over the years. The 2007 revision set the value at Rs 1,200 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012. However, this figure dropped to Rs 2,680 per sq.ft in 2017, before rising significantly to Rs 4,000 per sq.ft in 2023, and finally reaching Rs 4,400 per sq.ft in the 2024 revision.

In terms of changes, the value increased by 233% from 2007 to 2012, decreased by 33% from 2012 to 2017, and saw a substantial rise of 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, the guideline value has increased by 267% from 2007 to 2024.

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 value is Rs 4,400 per sq.ft, which matches the guideline value of Teynampet Ramasamy Mudaly Street.

• Tesappan Adi-Dravidar Street: Rs 3,800 per sq.ft (2024)
• Thaiyappa Mudaly Lane: Rs 4,400 per sq.ft (2024)
• Thaiyappa Mudaly Street: Rs 4,400 per sq.ft (2024)
• Telegraph Abbai Naidu Street: Rs 4,900 per sq.ft (2024)
• Thambu Naicken Street: Rs 6,000 per sq.ft (2024)
• Thanappa Chetty Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Teynampet Ramasamy Mudaly Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be 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 detailed calculations.

Which Sub Registrar Office covers Teynampet Ramasamy Mudaly Street?

The Sub Registrar Office that covers Teynampet Ramasamy Mudaly Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, Chennai registration zone. 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 property transactions in Muthiyalpet, as it determines the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must refer to the guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value serves as a benchmark for the transaction, ensuring that the sale price is in line with government assessments. This helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Teynampet Ramasamy Mudaly Street?

The current guideline value of Teynampet Ramasamy Mudaly 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 changed from Rs 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What is the stamp duty rate for properties in Teynampet Ramasamy Mudaly Street?

The stamp duty rate for properties in Teynampet Ramasamy Mudaly Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sowcarpet Sub Registrar Office located?

The Sowcarpet Sub Registrar Office is located at No.11, Davidson Street, Sowcarpet, Chennai-01, Chennai registration zone.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It acts as a benchmark for the minimum value at which properties can be registered.