Guideline Value for MULLAI NAGAR

Mullai Nagar guideline value

The current guideline value of Mullai Nagar, located in Nemilancheri village under the Avadi SRO, is Rs 660 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. The 2012 revision set the value at Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in the 2017 revision. Following that, the 2023 revision increased the value to Rs 600 per sq.ft, and the current 2024 revision has further raised it to Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Nemilancheri

Nemilancheri village has 15 streets under the Avadi SRO with a 2024 guideline value ranging from Rs 660 to Rs 1,870 per sq.ft. The median guideline value for these streets is Rs 990 per sq.ft, placing Mullai Nagar's 2024 figure below this median.

• M.T.H Road: Rs 1,870 per sq.ft (2024)
• Mahadevan Nagar: Rs 770 per sq.ft (2024)
• Padmavathi Nagar: Rs 770 per sq.ft (2024)
• P Dot G Flora: Rs 1,300 per sq.ft (2024)
• Harmony Enclave: Rs 1,650 per sq.ft (2024)
• E.V.P. Town: Rs 990 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 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, 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 Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Nemilancheri, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with registration requirements and to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Mullai Nagar?

The current guideline value of Mullai Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification of Mullai Nagar?

Mullai Nagar falls under the Residential Class I Type - I land classification.

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

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Where is the Sub Registrar Office for Mullai Nagar located?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.