Guideline Value for MULLAI NAGAR 7th STREET

MULLAI NAGAR 7th STREET guideline value

The current guideline value of MULLAI NAGAR 7th 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 7th STREET has changed

The guideline value for MULLAI NAGAR 7th STREET has seen significant changes over the years. In 2007, the guideline value was Rs 1,750 per sq.ft. This increased to Rs 7,500 per sq.ft in 2012, marking a substantial rise of 329%. However, it then decreased to Rs 5,025 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 7,500 per sq.ft in 2023, and most recently, it increased to Rs 8,200 per sq.ft in 2024, reflecting a 9% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register 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, with a median value of Rs 4,900 per sq.ft. The guideline value of MULLAI NAGAR 7th STREET is above this median.

• MULLAI NAGAR 6th STREET: Rs 8,200 per sq.ft (2024)
• MULLAI NAGAR 8th STREET: Rs 8,200 per sq.ft (2024)
• MULLAI NAGAR 5th STREET: Rs 8,200 per sq.ft (2024)
• MULLAI NAGAR 9th STREET: Rs 8,200 per sq.ft (2024)
• MULLAI NAGAR 4th STREET: Rs 8,200 per sq.ft (2024)
• MULLAI NAGAR 3rd STREET: Rs 8,200 per sq.ft (2024)

Stamp duty and registration fee for property in MULLAI NAGAR 7th STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value amounts to Rs 82,00,000. The stamp duty at 7% would be Rs 5,74,000, and the registration fee at 2% would be Rs 1,64,000, leading to a total of Rs 7,38,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers MULLAI NAGAR 7th STREET?

The MULLAI NAGAR 7th STREET falls under the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Villivakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is set by the Registration Department and is regularly revised to reflect market conditions.

When selling property, the guideline value ensures that the transaction is recorded at a fair price, helping to maintain transparency in the real estate market. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of MULLAI NAGAR 7th STREET?

The current guideline value of MULLAI NAGAR 7th 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, starting from Rs 1,750 per sq.ft in 2007 to Rs 8,200 per sq.ft in 2024, reflecting an overall increase of 369% over the years.

What is the stamp duty for property in MULLAI NAGAR 7th STREET?

The stamp duty for property in MULLAI NAGAR 7th STREET is calculated at 7% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office covers MULLAI NAGAR 7th STREET?

The Villivakkam Sub Registrar Office covers MULLAI NAGAR 7th STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for MULLAI NAGAR 7th STREET?

MULLAI NAGAR 7th STREET is classified as Residential Class II Type - I, indicating its suitability for residential purposes.