Guideline Value for Thanigachalam Mudali Street

Thanigachalam Mudali Street guideline value

The current guideline value for Thanigachalam Mudali Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village and falls under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Thanigachalam Mudali Street has changed

The guideline value for Thanigachalam Mudali Street has seen significant changes over the years. In 2002, the guideline value was Rs 400 per sq.ft, which increased to Rs 434 per sq.ft in 2003, marking a 9% rise. The value then jumped to Rs 800 per sq.ft in 2007, reflecting an 84% increase. Following this, the value surged to Rs 2,500 per sq.ft in 2012, which was a substantial 213% increase. However, between 2012 and 2017, the value decreased to Rs 1,675 per sq.ft, representing a decline of 33%. The guideline value then rose to Rs 2,500 per sq.ft in 2023, and most recently to Rs 2,700 per sq.ft in 2024, showing an 8% increase.

Overall, from 2002 to 2024, the guideline value has increased by 575%. The register has no figure for the years not listed in the revisions, which include years outside of 2002, 2003, 2007, 2012, 2017, 2023, and 2024.

Guideline values in Sembiam

In Sembiam village, there are a total of 250 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, which is equal to the current guideline value for Thanigachalam Mudali Street.

• Telephone Colony: Rs 2,700 per sq.ft (2024)
• Thilaiyadi Valliammai Street: Rs 2,700 per sq.ft (2024)
• Thillainayagam Pillai 1st Street: Rs 2,700 per sq.ft (2024)
• Thillainayagam Pillai 2nd Street: Rs 2,700 per sq.ft (2024)
• Thillainayagam Pillai 3rd Street: Rs 2,700 per sq.ft (2024)
• Thillainayagam Pillai 4th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thanigachalam Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total charges Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thanigachalam Mudali Street?

Thanigachalam Mudali Street falls under the jurisdiction of the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Sembiam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to ensure that the transaction is recorded accurately and that the appropriate taxes are collected by the government. Buyers and sellers should always be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value for Thanigachalam Mudali Street?

The current guideline value for Thanigachalam Mudali Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 400 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, which is an overall increase of 575%.

What is the land classification for Thanigachalam Mudali Street?

Thanigachalam Mudali Street is classified as Residential Class I Type - I, indicating its suitability for residential use.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Sembiam?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. It is typically charged at 7%, while the registration fee is charged at 2% of the guideline value.