Guideline Value for Vajiravelu Mudali Street

Vajiravelu Mudali Street guideline value

The current guideline value of Vajiravelu Mudali Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Vajiravelu Mudali Street has changed

The guideline value of Vajiravelu Mudali Street has undergone several revisions over the years. In 2002, the guideline value was Rs 354 per sq.ft, which increased to Rs 384 per sq.ft in 2003. The value saw a significant rise to Rs 700 per sq.ft in 2007, followed by a further increase to Rs 2,500 per sq.ft in 2012. However, it dropped to Rs 1,675 per sq.ft in 2017 before climbing to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft.

In terms of percentage changes, from 2002 to 2024, the overall increase is 663%. The change from 2017 to 2023 saw a rise of 49%, while the 2012 to 2017 period experienced a decrease of 33%. The 2007 to 2012 revision showed a remarkable increase of 257%, and the 2003 to 2007 period had an increase of 82%. The 2002 to 2003 change was a modest 8%, and the latest change from 2023 to 2024 is an increase of 8%.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO, with guideline values ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the current value of Vajiravelu Mudali Street.

• Union Public Lane: Rs 2,700 per sq.ft (2024)
• Vasudevagramani Street: Rs 2,200 per sq.ft (2024)
• Thivuvalluvar Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 6th Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 6th Cross Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 5th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Vajiravelu Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000. Therefore, the total cost for stamp duty and registration fees would be Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Vajiravelu Mudali Street?

The Sub Registrar Office that covers Vajiravelu Mudali Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Sembiam. It serves as a basis for calculating the stamp duty and registration fees when a property is bought or sold. This ensures that the government receives the appropriate revenue from property transactions.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This process is essential for the legal transfer of property ownership and ensures that all transactions are recorded accurately.

Frequently asked questions

What is the current guideline value of Vajiravelu Mudali Street?

The current guideline value of Vajiravelu Mudali Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 354 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 663% over this period.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 2,43,000.

Which Sub Registrar Office covers Vajiravelu Mudali Street?

The Sembiam Sub Registrar Office covers Vajiravelu Mudali Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Vajiravelu Mudali Street?

The land classification for Vajiravelu Mudali Street is Residential Class I Type - I.