Guideline Value for MULLAI NAGAR

Mullai Nagar guideline value

The current guideline value of Mullai Nagar, located in Marutheri (342 & 311) village, under the Cheyyur SRO, is Rs 103 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Mullai Nagar has changed

The guideline value for Mullai Nagar has undergone several revisions over the years. In the 2017 revision, the guideline value was set at Rs 40 per sq.ft. This figure saw a significant increase in the subsequent revisions, reaching Rs 100 per sq.ft in 2023. The most recent revision in 2024 has further raised the guideline value to Rs 103 per sq.ft, marking an increase of 3% from the previous year.

Examining the changes between the revisions, we see that the jump from Rs 40 per sq.ft in 2017 to Rs 100 per sq.ft in 2023 represents a remarkable increase of 150%. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 158%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Marutheri ( 342 & 311)

Currently, there are no specific village figures available for Marutheri (342 & 311). This street, however, falls under the jurisdiction of the Cheyyur SRO. As there are no other streets in Marutheri (342 & 311) with provided guideline values, this section will remain focused on Mullai Nagar.

Stamp duty and registration fee for property in Mullai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 103 per sq.ft, the total guideline value amounts to Rs 1,03,000. The stamp duty, charged at 7%, would be Rs 7,210, while the registration fee at 2% would be Rs 2,060. Together, the total cost for stamp duty and registration fee would be Rs 9,270. It is essential to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mullai Nagar?

The Sub Registrar Office that covers Mullai Nagar is the Cheyyur Sub Registrar Office, located at 3/156, Salt Road, Cheyyur- 603 302, in the Chengalpattu registration zone. You can find more information about your specific SRO by visiting find your SRO.

How the guideline value is used when you buy or sell in Marutheri ( 342 & 311)

The guideline value plays a crucial role in the registration process when buying or selling property in Marutheri (342 & 311). It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transaction.

When a property is sold, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the official valuation of the property in question.

Frequently asked questions

What is the current guideline value of Mullai Nagar?

The current guideline value of Mullai Nagar is Rs 103 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 40 per sq.ft in 2017 to Rs 100 per sq.ft in 2023, and then to Rs 103 per sq.ft in 2024. This represents an overall increase of 158% from 2017 to 2024.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 7,210, and the registration fee is Rs 2,060, making a total of Rs 9,270. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Mullai Nagar located?

The Cheyyur Sub Registrar Office, which covers Mullai Nagar, is located at 3/156, Salt Road, Cheyyur- 603 302, in the Chengalpattu registration zone.

What is the land classification for Mullai Nagar?

Mullai Nagar falls under the Residential Class I Type - I land classification, indicating its designation for residential use. This classification is important for understanding the types of developments permitted in the area.