Guideline Value for MULLAI NAGAR (KR)

Mullai Nagar (Kr) guideline value

The current guideline value of Mullai Nagar (Kr) in Ninna Karai village is Rs 440 per sq.ft, effective from 1 July 2024. This area falls under the Chengleput Joint II SRO and is classified as Residential Class II Type - II.

How the guideline value of Mullai Nagar (Kr) has changed

The guideline value of Mullai Nagar (Kr) has seen several revisions over the years. In the 2012 revision, the value was set at Rs 400 per sq.ft. This value decreased to Rs 268 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value rose significantly to Rs 400 per sq.ft in the 2023 revision, and further increased by 10% to Rs 440 per sq.ft in the 2024 revision.

From the 2017 to 2023 revision, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft as of 2024. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Mullai Nagar (Kr) below this median.

• M.T.C. Nagar (Pa): Rs 990 per sq.ft (2024)
• Murugan Sintigate (Sa): Rs 440 per sq.ft (2024)
• Mosqure Street (Ward -17): Rs 660 per sq.ft (2024)
• Muthumariamman Koil Street (Ward -15): Rs 550 per sq.ft (2024)
• Muthumariamman Koil Street (Ward -17): Rs 660 per sq.ft (2024)
• Muthumari Street (Kr): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Mullai Nagar (Kr)

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total cost for these fees to Rs 39,600. It is important to note that 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 Mullai Nagar (Kr)?

The Sub Registrar Office that covers Mullai Nagar (Kr) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ninna Karai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both parties are aware of the financial obligations involved in the transaction. It is essential to verify the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Mullai Nagar (Kr)?

The current guideline value of Mullai Nagar (Kr) is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the median guideline value in Ninna Karai?

The median guideline value for streets in Ninna Karai is Rs 1,100 per sq.ft, which is higher than the current value of Mullai Nagar (Kr).

What are the stamp duty and registration fees for properties in Mullai Nagar (Kr)?

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800, and the registration fee would be Rs 8,800, totaling Rs 39,600.

Where is the Sub Registrar Office for Mullai Nagar (Kr)?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.