Guideline Value for Veerangavedu Murugesa Mudali Lane

Veerangavedu Murugesa Mudali Lane guideline value

The current guideline value of Veerangavedu Murugesa Mudali Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This street 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 Veerangavedu Murugesa Mudali Lane has changed

The guideline value for Veerangavedu Murugesa Mudali Lane has seen several revisions over the years. In 2003, the value was Rs 939 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007. The value then rose significantly to Rs 4,000 per sq.ft in 2012, but saw a decrease to Rs 2,680 per sq.ft in 2017. The value increased again to Rs 4,000 per sq.ft in 2023 before reaching the current value of Rs 4,400 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 369%. The register has no figure for the year 2002 for this street.

Guideline values in Muthiyalpet

In Muthiyalpet, 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 for these streets is Rs 4,400 per sq.ft, which is equal to the current guideline value for Veerangavedu Murugesa Mudali Lane.

• Veerangavedu Murugesa Mudali Street: Rs 4,900 per sq.ft (2024)
• Veerappan Lane: Rs 6,000 per sq.ft (2024)
• Veerappan Street: Rs 6,000 per sq.ft (2024)
• Vedha Vinayagar Lane: Rs 6,600 per sq.ft (2024)
• Vedha Vinayagar Koil Street: Rs 3,800 per sq.ft (2024)
• Veerasamy Pillai Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Veerangavedu Murugesa 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, while the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. Duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Veerangavedu Murugesa Mudali Lane?

The Sub Registrar Office that covers Veerangavedu Murugesa 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 when registering a property in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a buyer or seller engages in a property transaction, the guideline value ensures that the transaction is recorded accurately, reflecting the value of the property as per the government standards.

Frequently asked questions

What is the current guideline value of Veerangavedu Murugesa Mudali Lane?

The current guideline value of Veerangavedu Murugesa 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 939 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, with several revisions in between, including a decrease in 2017 and an increase in 2024.

What is the median guideline value in Muthiyalpet?

The median guideline value for streets in Muthiyalpet is Rs 4,400 per sq.ft, which is the same as the current value for Veerangavedu Murugesa Mudali Lane.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Veerangavedu Murugesa Mudali Lane is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate results in a total fee of Rs 3,96,000.