Guideline Value for Veerangavedu Murugesa Mudali Street

Veerangavedu Murugesa Mudali Street guideline value

The current guideline value of Veerangavedu Murugesa Mudali Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, classified as Residential Special Type - III.

How the guideline value of Veerangavedu Murugesa Mudali Street has changed

The guideline value for Veerangavedu Murugesa Mudali Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,600 per sq.ft, which increased to Rs 4,500 per sq.ft in 2012. However, it then decreased to Rs 3,015 per sq.ft in 2017. Following this, the value rose significantly to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 4,900 per sq.ft in the 2024 revision. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%. The value then increased by 9% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 206%. The fluctuations in value reflect various factors influencing the real estate market in the area.

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 guideline value for these streets is Rs 4,400 per sq.ft, placing Veerangavedu Murugesa Mudali Street above this median.

• Veerangavedu Murugesa Mudali Lane: Rs 4,400 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. 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 Veerangavedu Murugesa Mudali Street?

The Sub Registrar Office that covers Veerangavedu Murugesa 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 property transactions within Muthiyalpet. It serves as a reference point for calculating stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is utilized to determine the applicable fees. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Veerangavedu Murugesa Mudali Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, showing an overall increase of 206% over the years.

What is the land classification for Veerangavedu Murugesa Mudali Street?

The land classification for Veerangavedu Murugesa Mudali Street is Residential Special Type - III.

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

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

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 at 7%.