Guideline Value for MULLAI NAGAR (KR)

Mullai Nagar (Kr) guideline value

The current guideline value of Mullai Nagar (Kr) is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Sattamangalam village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class II Type - II.

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

The guideline value for Mullai Nagar (Kr) has undergone several revisions over the years. In 2012, the guideline value was Rs 400 per sq.ft. This figure remained unchanged until 2017 when it decreased to Rs 268 per sq.ft, marking a decline of 33%. The value then increased to Rs 400 per sq.ft in 2023, and subsequently rose to Rs 440 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 400 per sq.ft. Overall, from 2012 to 2024, the guideline value has seen a 10% increase, with the current figure of Rs 440 per sq.ft being the highest recorded since 2012. The revisions for the years 2002, 2003, and 2007 do not have figures listed for this street in the register.

Guideline values in Sattamangalam

Sattamangalam village has a total of 425 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft in 2024. The median guideline value for these streets is Rs 1,100 per sq.ft, indicating that the guideline value of Mullai Nagar (Kr) is below this median.

• M.T.C. Nagar (Pa): Rs 990 per sq.ft (2024)
• Murugan Sintigate (Sa): Rs 660 per sq.ft (2024)
• Mosqure Street (Ward -17): Rs 550 per sq.ft (2024)
• Muthumariamman Koil Street (Ward -15): Rs 440 per sq.ft (2024)
• Muthumariamman Koil Street (Ward -17): Rs 550 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 amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total fees together to Rs 39,600. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mullai Nagar (Kr)?

The Sub Registrar Office covering Mullai Nagar (Kr) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration of property transactions in Sattamangalam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, ensuring that these costs are calculated based on an official value rather than the negotiated sale price.

This system helps maintain transparency in property transactions and ensures that the government receives the appropriate revenue from property sales. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their transactions.

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 land classification for Mullai Nagar (Kr)?

Mullai Nagar (Kr) is classified as Residential Class II Type - II, indicating its designation for residential purposes.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is charged at 2%. For a 1,000 sq.ft plot, the total fees amount to Rs 39,600.

Where can I find 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, Chengalpattu registration zone. You can find your specific SRO online.