Guideline Value for Venkatachalam Mudal Lane

Venkatachalam Mudal Lane guideline value

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

How the guideline value of Venkatachalam Mudal Lane has changed

The guideline value for Venkatachalam Mudal Lane has seen several revisions over the years. In the 2007 revision, the value was Rs 1,600 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in the 2012 revision. However, this figure saw a decrease to Rs 3,015 per sq.ft in the 2017 revision, before rising to Rs 4,500 per sq.ft in the 2023 revision. The latest revision in 2024 has set the guideline value at Rs 4,900 per sq.ft, marking a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 206%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO with 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, placing Venkatachalam Mudal Lane's 2024 figure above this median.

• Venkatachalam Mudal Street: Rs 4,900 per sq.ft (2024)
• Vengu Chetty Lane: Rs 3,800 per sq.ft (2024)
• Vengaiyer Street: Rs 4,400 per sq.ft (2024)
• Venkatasamy Lane: Rs 3,800 per sq.ft (2024)
• Venkatesa Chetty Street: Rs 4,400 per sq.ft (2024)
• Venkatesa Lane: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatachalam Mudal Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. Please note that the 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 Venkatachalam Mudal Lane?

The Sub Registrar Office that covers Venkatachalam Mudal 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 critical factor when buying or selling property in Muthiyalpet. It is used to determine the stamp duty and registration fees that need to be paid during the property registration process.

When a property is sold, the guideline value serves as a benchmark for the minimum value at which the property can be registered. This ensures that the transaction is recorded accurately in the official records.

Frequently asked questions

What is the current guideline value of Venkatachalam Mudal Lane?

The current guideline value of Venkatachalam Mudal Lane 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, representing an overall increase of 206% over this period.

What is the land classification of Venkatachalam Mudal Lane?

Venkatachalam Mudal Lane is classified as Residential Special Type - III.

Where can I find the Sub Registrar Office for Venkatachalam Mudal Lane?

The Sowcarpet Sub Registrar Office, which covers Venkatachalam Mudal Lane, is located at No.11, Davidson Street, Sowcarpet, Chennai-01.

How is the stamp duty calculated for properties in Muthiyalpet?

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