Guideline Value for Varadharaja Mudali Lane

Varadharaja Mudali Lane guideline value

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

How the guideline value of Varadharaja Mudali Lane has changed

The guideline value for Varadharaja Mudali Lane has seen several revisions over the years. The 2007 revision set the value at Rs 1,200 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a 233% increase. However, in 2017, the value dropped to Rs 2,680 per sq.ft, a decrease of 33%. The 2023 revision brought the value back up to Rs 4,000 per sq.ft, and the most recent 2024 revision has set it at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the value rose by 49%. Overall, from 2007 to 2024, the guideline value has increased by 267%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft, with the median being Rs 4,400 per sq.ft. Varadharaja Mudali Lane's 2024 figure matches this median.

• Varadaiyar Street: Rs 4,900 per sq.ft (2024)
• Vardha Muthiyappan Street: Rs 6,000 per sq.ft (2024)
• Vandalur Rangapillai Street: Rs 4,400 per sq.ft (2024)
• Vedha Vinayagar Koil Street: Rs 3,800 per sq.ft (2024)
• Vedha Vinayagar Lane: Rs 6,600 per sq.ft (2024)
• Veerangavedu Murugesa Mudali Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Varadharaja Mudali Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for duty and registration to Rs 3,96,000. 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 more details.

Which Sub Registrar Office covers Varadharaja Mudali Lane?

The Sub Registrar Office that covers Varadharaja Mudali Lane 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 calculating stamp duty and registration fees, ensuring that these charges are based on a standardized value rather than the negotiated sale price.

Frequently asked questions

What is the current guideline value of Varadharaja Mudali Lane?

The current guideline value of Varadharaja Mudali Lane 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 from Rs 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, representing an overall increase of 267% over the years.

What are the stamp duty and registration fees for property in Varadharaja Mudali Lane?

The stamp duty is 7% and the registration fee is 2% of the guideline value, which for a 1,000 sq.ft plot would total Rs 3,96,000 for both fees combined.

Where is the Sub Registrar Office located?

The Sowcarpet Sub Registrar Office is located at No.11, Davidson Street, Sowcarpet, Chennai-01.

What other streets have guideline values in Muthiyalpet?

Other streets in Muthiyalpet include Varadaiyar Street at Rs 4,900 per sq.ft, Vardha Muthiyappan Street at Rs 6,000 per sq.ft, and several others, with values ranging from Rs 3,800 to Rs 16,500 per sq.ft.