Guideline Value for MULLAI NAGAR 1st STREET

MULLAI NAGAR 1st STREET guideline value

The current guideline value of MULLAI NAGAR 1st STREET is Rs 8,200 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village, under the Villivakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of MULLAI NAGAR 1st STREET has changed

The guideline value for MULLAI NAGAR 1st STREET has seen several revisions over the years. In 2007, the value was Rs 1,750 per sq.ft. This increased significantly to Rs 7,500 per sq.ft in 2012, marking a rise of 329%. However, from 2012 to 2017, the value decreased to Rs 5,025 per sq.ft, a drop of 33%. The value then rose to Rs 7,500 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 set the value at Rs 8,200 per sq.ft, which is a 9% increase from the previous year.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 369%.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, indicating that MULLAI NAGAR 1st STREET's 2024 figure is above this median.

• MULLAI NAGAR 11th STREET: Rs 8,200 per sq.ft (2024)
• MULLAI NAGAR 10th STREET: Rs 8,200 per sq.ft (2024)
• MULLAI NAGAR 2nd STREET: Rs 8,200 per sq.ft (2024)
• Mullai Nagar: Rs 8,200 per sq.ft (2024)
• MULLAI NAGAR 3rd STREET: Rs 8,200 per sq.ft (2024)
• MULLAI NAGAR 4th STREET: Rs 8,200 per sq.ft (2024)

Stamp duty and registration fee for property in MULLAI NAGAR 1st STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value would be Rs 82,00,000. The stamp duty, charged at 7%, would amount to Rs 5,74,000, and the registration fee at 2% would be Rs 1,64,000. Together, the total fees would be Rs 7,38,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers MULLAI NAGAR 1st STREET?

The Sub Registrar Office that covers MULLAI NAGAR 1st STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

When buying or selling property in Villivakkam, the guideline value is a crucial factor in determining the stamp duty and registration fees. The guideline value serves as a benchmark for these calculations, ensuring that the fees reflect the official valuation of the property.

It is essential for buyers and sellers to be aware of the current guideline value, as it can impact the overall cost of the transaction. Understanding this value helps in making informed decisions during the property registration process.

Frequently asked questions

What is the current guideline value of MULLAI NAGAR 1st STREET?

The current guideline value of MULLAI NAGAR 1st STREET is Rs 8,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,750 per sq.ft in 2007 to Rs 8,200 per sq.ft in 2024, marking an overall increase of 369%.

What is the land classification for MULLAI NAGAR 1st STREET?

MULLAI NAGAR 1st STREET is classified as Residential Class II Type - I.

What are the other streets with the same guideline value in Villivakkam?

Other streets in Villivakkam with the same guideline value of Rs 8,200 per sq.ft include MULLAI NAGAR 11th STREET, MULLAI NAGAR 10th STREET, MULLAI NAGAR 2nd STREET, Mullai Nagar, MULLAI NAGAR 3rd STREET, and MULLAI NAGAR 4th STREET.

Where is the Sub Registrar Office for MULLAI NAGAR 1st STREET located?

The Sub Registrar Office for MULLAI NAGAR 1st STREET is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.