Guideline Value for Thiruvengadam Mudali Street

Thiruvengadam Mudali Street guideline value

The current guideline value of Thiruvengadam Mudali Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village under the Virugambakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Thiruvengadam Mudali Street has changed

The guideline value for Thiruvengadam Mudali Street has seen several revisions over the years. In 2002, the guideline value was Rs 374 per sq.ft. This increased to Rs 409 per sq.ft in 2003, marking a change of +9%. The value then rose significantly to Rs 850 per sq.ft in 2007, an increase of +108%. Following this, the guideline value surged to Rs 3,000 per sq.ft in 2012, reflecting a remarkable increase of +253%. However, it decreased to Rs 2,010 per sq.ft in 2017, a decline of -33%. The value then rose again to Rs 3,000 per sq.ft in 2023, leading to an increase of +49%. Finally, the current revision in 2024 sets the guideline value at Rs 3,300 per sq.ft, which is a +10% increase from the previous year.

There are no figures available for the revisions in the years not mentioned above. The overall change in guideline value from 2002 to 2024 is +782%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. Thiruvengadam Mudali Street's 2024 guideline value is below this median.

• Thiruvengadam Swamy Street: Rs 3,300 per sq.ft (2024)
• Thiruvalluvar Street: Rs 3,850 per sq.ft (2024)
• Thiyagi Sankaralingam Street: Rs 3,300 per sq.ft (2024)
• Tilaiyadi Valliammai Street: Rs 4,950 per sq.ft (2024)
• Thilagar Street: Rs 3,300 per sq.ft (2024)
• Valampuri Vinayagar Koil Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvengadam Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. 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 Thiruvengadam Mudali Street?

The Thiruvengadam Mudali Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Saligramam. It determines the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees. Buyers and sellers must consider the guideline value to avoid discrepancies during the registration process.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and complies with legal requirements.

Frequently asked questions

What is the current guideline value of Thiruvengadam Mudali Street?

The current guideline value of Thiruvengadam Mudali Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 374 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +782% over this period.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office handles registrations for Thiruvengadam Mudali Street?

The Virugambakkam Sub Registrar Office handles registrations for Thiruvengadam Mudali Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the guideline value determined for properties?

The guideline value is determined based on various factors, including location, land classification, and revisions made over the years. It is set by the Registration Department to ensure compliance during property transactions.