Guideline Value for MULLAI NAGAR 9th STREET

MULLAI NAGAR 9th STREET guideline value

The current guideline value of MULLAI NAGAR 9th 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 9th STREET has changed

Over the years, the guideline value for MULLAI NAGAR 9th STREET has seen significant changes. The 2007 revision recorded a guideline value of Rs 1,750 per sq.ft. This increased dramatically to Rs 7,500 per sq.ft in the 2012 revision, marking a rise of 329%. However, in the 2017 revision, the value dropped to Rs 5,025 per sq.ft, a decrease of 33%. The value then increased to Rs 7,500 per sq.ft in the 2023 revision, reflecting a 49% rise, and finally, it reached Rs 8,200 per sq.ft in the 2024 revision, an increase of 9%.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

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. MULLAI NAGAR 9th STREET's 2024 guideline value is above this median.

• MULLAI NAGAR 8th STREET: Rs 8,200 per sq.ft (2024)
• MULLAI NAGAR 7th STREET: Rs 8,200 per sq.ft (2024)
• MULLAI NAGAR 6th STREET: Rs 8,200 per sq.ft (2024)
• MULLAI NAGAR 5th 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 9th 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, while the registration fee at 2% would be Rs 1,64,000, bringing the total to Rs 7,38,000. It is important to note that the 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 a more accurate estimate.

Which Sub Registrar Office covers MULLAI NAGAR 9th STREET?

The MULLAI NAGAR 9th 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 the registration of property transactions in Villivakkam. When buying or selling property, the guideline value is considered for calculating the stamp duty and registration fees, ensuring that these fees reflect the official valuation of the property.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of the transaction. Accurate knowledge of the guideline value can help in budgeting for the additional costs associated with property registration.

Frequently asked questions

What is the current guideline value of MULLAI NAGAR 9th STREET?

The current guideline value of MULLAI NAGAR 9th 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, with various revisions in between showing fluctuations.

What was the guideline value in 2017?

The guideline value for MULLAI NAGAR 9th STREET in 2017 was Rs 5,025 per sq.ft.

Which Sub Registrar Office covers MULLAI NAGAR 9th STREET?

The Villivakkam Sub Registrar Office covers MULLAI NAGAR 9th STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in MULLAI NAGAR 9th STREET?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value would be Rs 82,00,000, leading to a stamp duty of Rs 5,74,000.