Guideline Value for MULLAI NAGAR & STREETS

Mullai Nagar & Streets guideline value

The current guideline value for Mullai Nagar & Streets in Thandurai village, under the Avadi SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of Mullai Nagar & Streets has changed

The guideline value for Mullai Nagar & Streets has undergone several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and then to Rs 1,300 per sq.ft in 2024, marking an 8% increase from the previous year. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, while the value increased by 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Thandurai

In Thandurai village, there are 331 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,640 per sq.ft, with a median value of Rs 988 per sq.ft. The guideline value for Mullai Nagar & Streets is above this median.

• Mullai Nagar: Rs 1,300 per sq.ft (2024)
• M.T.H.Road: Rs 2,200 per sq.ft (2024)
• Mridul Sai Nagar: Rs 800 per sq.ft (2024)
• Modern City: Rs 2,420 per sq.ft (2024)
• Model St Kakkanji Nagar: Rs 800 per sq.ft (2024)
• M.K. Gandhi Street: Rs 988 per sq.ft (2024)

Stamp duty and registration fee for property in Mullai Nagar & Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Mullai Nagar & Streets?

The Sub Registrar Office that covers Mullai Nagar & Streets is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Thandurai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value for Mullai Nagar & Streets?

The current guideline value for Mullai Nagar & Streets is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Mullai Nagar & Streets?

The land classification for Mullai Nagar & Streets is Residential Special Type - III.

Where is the Avadi Sub Registrar Office located?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the stamp duty calculated for properties in Mullai Nagar & Streets?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 13,00,000, the stamp duty at 7% would be Rs 91,000.