Guideline Value for Venkatachalam Mudal Street

Venkatachalam Mudal Street guideline value

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

How the guideline value of Venkatachalam Mudal Street has changed

Over the years, the guideline value for Venkatachalam Mudal Street has seen several revisions. The 2007 revision set the value at Rs 1,600 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in the 2012 revision. However, this figure dropped to Rs 3,015 per sq.ft in 2017, marking a decrease of 33%. The value then rose sharply to Rs 4,500 per sq.ft in 2023, and further increased by 9% to the current rate of Rs 4,900 per sq.ft in 2024.

In summary, from the 2007 revision to the 2024 revision, the guideline value has increased by 206%. 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. The median value is Rs 4,400 per sq.ft, placing Venkatachalam Mudal Street's 2024 value above this median.

• Venkatachalam Mudal Lane: 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 Street

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. It is important to note that the 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 information.

Which Sub Registrar Office covers Venkatachalam Mudal Street?

The Venkatachalam Mudal Street is covered by the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more details.

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

When buying or selling property in Muthiyalpet, the guideline value plays a crucial role in determining the stamp duty and registration fees. This value is set by the government and is used to calculate the taxes that need to be paid during the registration process.

It is essential to be aware that the guideline value can vary significantly from street to street, influencing the overall costs involved in property transactions. Buyers and sellers should ensure they are informed about the latest guideline values to avoid any surprises during registration.

Frequently asked questions

What is the current guideline value of Venkatachalam Mudal Street?

The current guideline value of Venkatachalam Mudal 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, reflecting an overall increase of 206% during this period.

What is the land classification for Venkatachalam Mudal Street?

Venkatachalam Mudal Street is classified as Residential Special Type - III under the land classification system.

What are the stamp duty and registration fees for a property here?

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000, and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which Sub Registrar Office is responsible for Venkatachalam Mudal Street?

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