Guideline Value for VATHIYAR SUBBARAYA MUDALI STREET

Vathiyar Subbaraya Mudali Street guideline value

The current guideline value of Vathiyar Subbaraya Mudali Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - II.

How the guideline value of Vathiyar Subbaraya Mudali Street has changed

The guideline value for Vathiyar Subbaraya Mudali Street has seen several revisions over the years. In 2002, the value was Rs 511 per sq.ft, which increased to Rs 640 per sq.ft in 2003. The value then rose significantly to Rs 1,100 per sq.ft in 2007, followed by a notable increase to Rs 4,000 per sq.ft in 2012. However, it decreased to Rs 2,680 per sq.ft in 2017. The most recent revisions show an increase to Rs 4,000 per sq.ft in 2023 and then to Rs 4,400 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 761%. Each revision shows distinct changes, with the most significant increase occurring between 2007 and 2012, where the value jumped by 264%. Notably, there are no figures available for the years not mentioned in the register for this street.

Guideline values in Saidapet

Saidapet village has 106 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is the same as the current guideline value for Vathiyar Subbaraya Mudali Street.

• Varasithi Vinayagar Koil Street: Rs 3,300 per sq.ft (2024)
• Vgp Salai Iiird Street: Rs 4,950 per sq.ft (2024)
• Vgp Salai Iind Street: Rs 4,950 per sq.ft (2024)
• Vgp Salai Ist Street: Rs 4,950 per sq.ft (2024)
• Vinayagam Koil Street: Rs 4,400 per sq.ft (2024)
• Vinayagam Pettai Street: Rs 6,050 per sq.ft (2024)

Stamp duty and registration fee for property in Vathiyar Subbaraya Mudali Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the 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 duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Vathiyar Subbaraya Mudali Street?

The Sub Registrar Office that covers Vathiyar Subbaraya Mudali Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Saidapet. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers must refer to the current guideline value to ensure compliance with local regulations during the registration process.

When purchasing a property, the guideline value helps establish a baseline for the transaction value. It is essential for both parties to be aware of this value to avoid disputes and ensure a smooth registration process.

Frequently asked questions

What is the current guideline value of Vathiyar Subbaraya Mudali Street?

The current guideline value of Vathiyar Subbaraya Mudali 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 significantly from Rs 511 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 761% over this period.

What is the stamp duty for a property on Vathiyar Subbaraya Mudali Street?

The stamp duty for a property on Vathiyar Subbaraya Mudali Street is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would be Rs 3,08,000.

Where is the Sub Registrar Office for this street located?

The Sub Registrar Office covering Vathiyar Subbaraya Mudali Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What are the other streets in Saidapet with guideline values?

Other streets in Saidapet have varying guideline values, with rates ranging from Rs 3,300 to Rs 13,200 per sq.ft. For example, Varasithi Vinayagar Koil Street has a guideline value of Rs 3,300 per sq.ft, while Vinayagam Pettai Street is at Rs 6,050 per sq.ft.