Guideline Value for VICHUR MUTHIAH MUDALI STREET

Vichur Muthiah Mudali Street guideline value

The current guideline value of Vichur Muthiah Mudali Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Vichur Muthiah Mudali Street has changed

The guideline value for Vichur Muthiah Mudali Street has seen several revisions over the years. In the 2007 revision, the value was Rs 1,800 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, this was followed by a decrease to Rs 3,350 per sq.ft in the 2017 revision. The 2023 revision brought the value back up to Rs 5,000 per sq.ft, and the latest revision in 2024 has set it at Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 206%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value is Rs 5,500 per sq.ft, which is equal to the current value of Vichur Muthiah Mudali Street.

• Vijaya Vigneshwarar Koil Street: Rs 5,500 per sq.ft (2024)
• Vijaya Vigneswara Koil Lane: Rs 5,500 per sq.ft (2024)
• Vethiyan Cheri: Rs 2,200 per sq.ft (2024)
• Vepery Church Road: Rs 7,000 per sq.ft (2024)
• Vinai Theertha Vinayagar Koil Street: Rs 5,500 per sq.ft (2024)
• Venkatesa Pakthan Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Vichur Muthiah Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Vichur Muthiah Mudali Street?

The Sub Registrar Office covering Vichur Muthiah Mudali Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Purasaivakkam. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

When a property is sold, the buyer must ensure that the sale price meets or exceeds the guideline value, as the duty is charged on the higher of the two. This ensures that the transaction is compliant with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Vichur Muthiah Mudali Street?

The current guideline value of Vichur Muthiah Mudali Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly over the years, increasing from Rs 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, an overall increase of 206%.

What is the land classification for Vichur Muthiah Mudali Street?

The land classification for Vichur Muthiah Mudali Street is Residential Class III Type - I.

Where is the Sub Registrar Office for Vichur Muthiah Mudali Street located?

The Sub Registrar Office for Vichur Muthiah Mudali Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How are stamp duty and registration fees calculated for properties in Purasaivakkam?

Stamp duty and registration fees are calculated based on the guideline value of the property. The duty is charged at 7% for stamp duty and 2% for the registration fee, based on the higher of the guideline value or the sale price.