Guideline Value for MULLAI NAGAR EXTENSION

Mullai Nagar Extension guideline value

The current guideline value of Mullai Nagar Extension, located in Kilakadi village under the Salavakkam SRO, is Rs 101 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - II land classification.

How the guideline value of Mullai Nagar Extension has changed

In the 2012 revision, the guideline value was set at Rs 100 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 67 per sq.ft, marking a decline of 33%. The subsequent 2023 revision saw a significant increase to Rs 100 per sq.ft, followed by a slight increase to Rs 101 per sq.ft in the 2024 revision, representing a 1% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by just 1%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kilakadi

In Kilakadi, there are 21 streets under the Salavakkam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 433 per sq.ft. The median value for these streets is Rs 150 per sq.ft, placing the 2024 figure for Mullai Nagar Extension below that median.

• Mullai Nagar: Rs 101 per sq.ft (2024)
• Marudham Nagar Extension: Rs 101 per sq.ft (2024)
• Marudham Nagar: Rs 101 per sq.ft (2024)
• Mari Amman Kovil Street: Rs 100 per sq.ft (2024)
• Nila Nagar: Rs 101 per sq.ft (2024)
• Nila Nagar Part -1: Rs 105 per sq.ft (2024)

Stamp duty and registration fee for property in Mullai Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 101 per sq.ft, the total guideline value amounts to Rs 1,01,000. The stamp duty at 7% would be Rs 7,070, and the registration fee at 2% would be Rs 2,020, bringing the total to Rs 9,090. Duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mullai Nagar Extension?

The Sub Registrar Office that covers Mullai Nagar Extension is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kilakadi. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that these fees are calculated based on a standardized value.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Mullai Nagar Extension?

The current guideline value of Mullai Nagar Extension is Rs 101 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 100 per sq.ft in 2012, decreased to Rs 67 per sq.ft in 2017, increased to Rs 100 per sq.ft in 2023, and finally to Rs 101 per sq.ft in 2024.

What is the land classification for Mullai Nagar Extension?

Mullai Nagar Extension falls under the Residential Class I Type - II land classification, which indicates its suitability for residential development.

What are the stamp duty and registration fees for a property in Mullai Nagar Extension?

For a property valued at Rs 1,01,000, the stamp duty would be Rs 7,070, and the registration fee would be Rs 2,020, totaling Rs 9,090.

Which office handles registrations for Mullai Nagar Extension?

The Salavakkam Sub Registrar Office handles registrations for Mullai Nagar Extension, located at 2/1a, Thottakkara Street, Salavakkam, Chengalpattu.