Guideline Value for Thaiyappa Mudaly Lane

Thaiyappa Mudaly Lane guideline value

The current guideline value of Thaiyappa Mudaly Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This lane is located in Muthiyalpet village, under the Sowcarpet SRO, and is classified as Residential Class I Type - I.

How the guideline value of Thaiyappa Mudaly Lane has changed

The guideline value for Thaiyappa Mudaly Lane has undergone several revisions over the years. In 2007, the value was set at Rs 1,200 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, this figure then dropped by 33% to Rs 2,680 per sq.ft in 2017. The value saw a substantial rise of 49% to Rs 4,000 per sq.ft in 2023, followed by a further increase of 10% to the current value of Rs 4,400 per sq.ft in 2024. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 267%. The changes between the revisions indicate a significant fluctuation in the value, particularly the drastic rise from Rs 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 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 for these streets is Rs 4,400 per sq.ft, which is equal to the current guideline value of Thaiyappa Mudaly Lane.

• Thaiyappa Mudaly Street: Rs 4,400 per sq.ft (2024)
• Teynampet Ramasamy Mudaly Street: Rs 4,400 per sq.ft (2024)
• Tesappan Adi-Dravidar Street: Rs 3,800 per sq.ft (2024)
• Thambu Naicken Street: Rs 6,000 per sq.ft (2024)
• Thanappa Chetty Street: Rs 4,400 per sq.ft (2024)
• Thandavamurthi Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Thaiyappa Mudaly Lane

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 details.

Which Sub Registrar Office covers Thaiyappa Mudaly Lane?

The Sub Registrar Office that covers Thaiyappa Mudaly Lane 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 critical factor in the property registration process in Muthiyalpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value influences the stamp duty and registration fees that must be paid. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Thaiyappa Mudaly Lane?

The current guideline value of Thaiyappa Mudaly Lane 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 this period.

What are the stamp duty and registration fees for property in Thaiyappa Mudaly Lane?

For a 1,000 sq.ft property, the total guideline value is Rs 44,00,000. The stamp duty at 7% amounts to Rs 3,08,000, and the registration fee at 2% is Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office handles transactions for Thaiyappa Mudaly Lane?

The Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, is responsible for handling transactions for Thaiyappa Mudaly Lane.

What is the land classification for Thaiyappa Mudaly Lane?

Thaiyappa Mudaly Lane is classified as Residential Class I Type - I, indicating its suitability for residential development.