Guideline Value for Thiyagappa Mudali 1st lane

Thiyagappa Mudali 1st lane guideline value

The current guideline value of Thiyagappa Mudali 1st lane is Rs 7,100 per sq.ft, effective from 1 July 2024. This lane is located in Egmore village, under the Periamet SRO, and is classified as Residential Class II Type - I.

How the guideline value of Thiyagappa Mudali 1st lane has changed

The guideline value for Thiyagappa Mudali 1st lane has undergone several revisions over the years. In 2003, the value was Rs 589 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2007. The value then saw a substantial rise of 442% to reach Rs 6,500 per sq.ft in 2012. However, it dropped by 33% to Rs 4,355 per sq.ft in 2017. The value then increased by 49% to Rs 6,500 per sq.ft in 2023, before reaching the current figure of Rs 7,100 per sq.ft in 2024, which is a 9% increase from the previous year.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 1105%.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, which is the same as the current guideline value for Thiyagappa Mudali 1st lane.

• Thiyagappa Mudali 2nd lane: Rs 7,100 per sq.ft (2024)
• Thiyagappa Mudali street: Rs 7,100 per sq.ft (2024)
• Thiyagappa Mudali 3rd lane: Rs 7,100 per sq.ft (2024)
• Thulasinga Naicken strreet: Rs 3,900 per sq.ft (2024)
• Thiruvengadam street: Rs 7,100 per sq.ft (2024)
• Thiruvengadam Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Thiyagappa Mudali 1st lane

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, making the total fees together Rs 6,39,000. 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 further calculations.

Which Sub Registrar Office covers Thiyagappa Mudali 1st lane?

The Sub Registrar Office that covers Thiyagappa Mudali 1st lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Egmore. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared against the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Thiyagappa Mudali 1st lane?

The current guideline value of Thiyagappa Mudali 1st lane is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 589 per sq.ft in 2003 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 1105% over this period.

What are the stamp duty and registration fees for properties in this lane?

For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Which office handles property registrations in Egmore?

The Periamet Sub Registrar Office handles property registrations for Thiyagappa Mudali 1st lane and is located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification for Thiyagappa Mudali 1st lane?

Thiyagappa Mudali 1st lane is classified as Residential Class II Type - I according to the local land classification regulations.