Guideline Value for MULLAI NAGAR (KR)

Mullai Nagar (Kr) guideline value

The current guideline value of Mullai Nagar (Kr) is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Peramanoor village and falls under the Chengleput Joint II SRO, classified as Residential Class II Type - II.

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

Over the years, the guideline value of Mullai Nagar (Kr) has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which was then reduced to Rs 335 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 500 per sq.ft in the 2023 revision, and finally, it rose to Rs 550 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

In summary, the changes between revisions show a 49% increase from 2017 to 2023, a decrease of 33% from 2012 to 2017, and an overall increase of 10% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 550 to Rs 2,200 per sq.ft. The median 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)
• M.T.C.Nagar Extension-I: Rs 990 per sq.ft (2024)
• Murugan Sintigate (Sa): Rs 550 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)

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 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

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 details.

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

The guideline value is a crucial factor in property transactions in Peramanoor, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that buyers must pay during the purchase process.

When selling a property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions as set by the Registration Department. This helps maintain transparency and consistency in property dealings.

Frequently asked questions

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

The current guideline value of Mullai Nagar (Kr) is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification of Mullai Nagar (Kr)?

Mullai Nagar (Kr) is classified as Residential Class II Type - II, which indicates its designation for residential development.

What are the stamp duty rates for properties in Mullai Nagar (Kr)?

The stamp duty rate for properties in Mullai Nagar (Kr) is 7%, calculated on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Mullai Nagar (Kr)?

The Chengleput Joint II Sub Registrar Office covers Mullai Nagar (Kr) and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.