Guideline Value for Vaithyanath Mudali Street

Vaithyanath Mudali Street guideline value

The current guideline value of Vaithyanath Mudali Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village and falls under the Sowcarpet SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Vaithyanath Mudali Street has changed

The guideline value for Vaithyanath Mudali Street has undergone several revisions over the years. The earliest recorded value was Rs 1,200 per sq.ft in 2007, which saw a significant increase to Rs 4,000 per sq.ft in 2012. However, this figure dropped to Rs 2,680 per sq.ft in 2017. The value then rose sharply to Rs 4,000 per sq.ft in 2023, and most recently, it has increased to Rs 4,400 per sq.ft in 2024, marking a 10% rise from the previous year.

In terms of percentage changes, the guideline value increased by 233% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then surged by 49% from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 267%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Muthiyalpet

Within Muthiyalpet village, there are 357 streets under the Sowcarpet SRO that have a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the current guideline value of Vaithyanath Mudali Street.

• Vaikunda Vathiyar Street: Rs 5,500 per sq.ft (2024)
• Vadamalai Maistry Street: Rs 6,000 per sq.ft (2024)
• Vadamalai Maistry 2nd Lane: Rs 6,000 per sq.ft (2024)
• Vadamalai Maistry 1st Lane: Rs 6,000 per sq.ft (2024)
• Vandalur Rangapillai Street: Rs 4,400 per sq.ft (2024)
• Varadaiyar Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Vaithyanath Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total 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, bringing the total cost for stamp duty and registration fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vaithyanath Mudali Street?

The Sub Registrar Office that covers Vaithyanath Mudali Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Muthiyalpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately and transparently.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Vaithyanath Mudali Street?

The current guideline value of Vaithyanath 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 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office should I contact for transactions in Vaithyanath Mudali Street?

The Sowcarpet Sub Registrar Office at No.11, Davidson Street, Sowcarpet, Chennai-01, covers transactions in Vaithyanath Mudali Street.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum value for property registration and to calculate stamp duty and registration fees, ensuring transparency in property transactions.