Guideline Value for MULLAI AVENUE

Mullai Avenue guideline value

The current guideline value of Mullai Avenue in Kandular village is Rs 600 per sq.ft, effective from 1 July 2024. This street falls under the Chengleput Joint II SRO and is classified as Residential Special Type - I.

How the guideline value of Mullai Avenue has changed

The guideline value for Mullai Avenue has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged in the 2017 revision. However, in 2017, the value was adjusted to Rs 402 per sq.ft, reflecting a decrease of 33%. Following this, the 2023 revision brought the value back to Rs 600 per sq.ft, and the 2024 revision maintained it at the same rate, showing no change from the previous year.

From 2012 to 2024, the overall guideline value has remained the same at Rs 600 per sq.ft. The most significant change occurred between 2017 and 2023, with a notable increase of 49%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kandular

Kandular village has 20 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 600 to Rs 650 per sq.ft, with a median of Rs 600 per sq.ft. Mullai Avenue's 2024 figure aligns with this median.

• Pallava Garden: Rs 600 per sq.ft (2024)
• Rangayam Karupar Avenue: Rs 600 per sq.ft (2024)
• Green Hills Valley: Rs 600 per sq.ft (2024)
• Sree Mahalakshmi Nagar Phase - I: Rs 600 per sq.ft (2024)
• Sree Mahalakshmi Nagar Phase-II&iii: Rs 600 per sq.ft (2024)
• Sree Mahalakshmi Nagar Phase - IV: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Mullai Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees to Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mullai Avenue?

The Sub Registrar Office that covers Mullai Avenue is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Kandular. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller engages in a property transaction, the guideline value is used to calculate the fees based on the property's value. This ensures that the registration process adheres to the established rates set by the Registration Department.

Frequently asked questions

What is the current guideline value of Mullai Avenue?

The current guideline value of Mullai Avenue is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft from 2012 to 2024, with a significant increase of 49% from 2017 to 2023. The 2017 revision saw a decrease to Rs 402 per sq.ft, which was then revised back to Rs 600 in 2023.

What is the land classification of Mullai Avenue?

Mullai Avenue is classified as Residential Special Type - I under the Chengleput Joint II SRO.

Where can I find the Sub Registrar Office for Mullai Avenue?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of properties in Mullai Avenue.

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, for a property valued at Rs 6,00,000, the stamp duty would be Rs 42,000 and the registration fee would be Rs 12,000, totaling Rs 54,000.