Guideline Value for MULLAI COLONY (MKB Nagar)

MULLAI COLONY (MKB Nagar) guideline value

The current guideline value of MULLAI COLONY (MKB Nagar) is Rs 4,300 per sq.ft, effective from 1 July 2024. This area is located in Perambur village under the Purasaivakkam SRO and is classified as Residential Class II Type - I.

How the guideline value of MULLAI COLONY (MKB Nagar) has changed

The guideline value for MULLAI COLONY (MKB Nagar) has seen several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which then decreased to Rs 2,680 per sq.ft in the 2017 revision. Following this, the value increased to Rs 4,000 per sq.ft in the 2023 revision, and finally to Rs 4,300 per sq.ft in the 2024 revision.

In terms of changes, the guideline value increased by 8% from 2023 to 2024. There was a significant increase of 49% from 2017 to 2023. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO with a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing MULLAI COLONY (MKB Nagar) above this median.

• Muniappa Naicken Street: Rs 3,200 per sq.ft (2024)
• MURTHY NAGAR 1st LANE: Rs 3,200 per sq.ft (2024)
• MURTHY NAGAR LANE 2nd STREET: Rs 3,200 per sq.ft (2024)
• Murthy Nagar Street: Rs 3,200 per sq.ft (2024)
• Moorthinga Iyer Street: Rs 4,900 per sq.ft (2024)
• Moorthinga Iyer Street Lane: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in MULLAI COLONY (MKB Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,300 per sq.ft, the total guideline value amounts to Rs 43,00,000. The stamp duty at 7% would be Rs 3,01,000, and the registration fee at 2% would be Rs 86,000, bringing the total to Rs 3,87,000. 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 MULLAI COLONY (MKB Nagar)?

The Sub Registrar Office covering MULLAI COLONY (MKB Nagar) is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for further assistance.

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

When buying or selling property in Perambur, the guideline value is a crucial factor in determining the stamp duty and registration fees payable. This value serves as a benchmark for transactions and is used by the registration department to assess the applicable charges.

It is essential for buyers and sellers to be aware of the guideline value, as it influences the overall cost of property transactions. Ensuring that the correct guideline value is used can help avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of MULLAI COLONY (MKB Nagar)?

The current guideline value of MULLAI COLONY (MKB Nagar) is Rs 4,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 in 2012 to Rs 2,680 in 2017, then increased to Rs 4,000 in 2023, and finally to Rs 4,300 in 2024. The overall change from 2012 to 2024 is an increase of 8%.

What are the stamp duty and registration fees for property in MULLAI COLONY (MKB Nagar)?

For a property valued at Rs 43,00,000, the stamp duty is Rs 3,01,000 and the registration fee is Rs 86,000, totaling Rs 3,87,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers MULLAI COLONY (MKB Nagar)?

The Purasaivakkam Sub Registrar Office covers MULLAI COLONY (MKB Nagar) and is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification of MULLAI COLONY (MKB Nagar)?

MULLAI COLONY (MKB Nagar) is classified as Residential Class II Type - I. This classification is important for understanding the zoning and permissible uses of the land.