Guideline Value for MULLAI NAGAR

Mullai Nagar guideline value

The current guideline value of Mullai Nagar, located in Sengundram - 1 village, is Rs 1,320 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area falls under the Chengleput Joint II SRO and is classified as Residential Special Type - II.

How the guideline value of Mullai Nagar has changed

The guideline value for Mullai Nagar has seen several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft. This was followed by a significant increase to Rs 1,200 per sq.ft in 2023, and then a further increase to Rs 1,320 per sq.ft in 2024. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, the value increased by 49%, while the change from 2023 to 2024 reflects a 10% rise. Overall, comparing the values from 2012 to 2024, there has been a 10% increase.

Guideline values in Sengundram - 1

In Sengundram - 1, there are 126 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 3,285 per sq.ft, with a median value of Rs 880 per sq.ft. The guideline value for Mullai Nagar is above this median.

• Mettu Street (Chen): Rs 660 per sq.ft (2024)
• Narasinga Puram Colony (Chen): Rs 1,100 per sq.ft (2024)
• Meenatchipuram (Chen): Rs 880 per sq.ft (2024)
• Maruthi Nagar (Chen): Rs 880 per sq.ft (2024)
• Mariyamman Koil Street (Chen): Rs 660 per sq.ft (2024)
• Netharaji Street (Chen): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Mullai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mullai Nagar?

The Sub Registrar Office that covers Mullai Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sengundram - 1

The guideline value is a crucial factor when registering a property in Sengundram - 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from property transactions.

When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher value between the guideline value and the actual sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Mullai Nagar?

The current guideline value of Mullai Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Mullai Nagar?

Mullai Nagar is classified as Residential Special Type - II under the Chengleput Joint II SRO.

What are the stamp duty rates for property in Mullai Nagar?

The stamp duty rate for property in Mullai Nagar is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Mullai Nagar located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.