Guideline Value for MULLAI NAGAR

Mullai Nagar guideline value

The current guideline value of Mullai Nagar in Thandurai village, under the Avadi SRO, is Rs 803 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - III land classification.

How the guideline value of Mullai Nagar has changed

The guideline value for Mullai Nagar has seen significant changes over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 46 per sq.ft. This increased to Rs 53 per sq.ft in 2003, marking a 15% rise. Following this, the value surged dramatically to Rs 283 per sq.ft in 2007, reflecting a 434% increase. The 2012 revision recorded the value at Rs 600 per sq.ft, which was a 112% increase from the previous revision.

In 2017, the guideline value was Rs 402 per sq.ft, showing a decrease of 33%. The value then rose to Rs 600 per sq.ft in 2023, which was a 49% increase. The most recent revision in 2024 sets the guideline value at Rs 803 per sq.ft, representing a 34% increase from the previous year. There are no figures recorded for revisions in years other than those specified.

Guideline values in Thandurai

In Thandurai village, there are 331 streets under the Avadi SRO with a 2024 guideline value ranging from Rs 800 to Rs 2,640 per sq.ft. The median guideline value for these streets is Rs 988 per sq.ft, placing Mullai Nagar's 2024 figure below this median.

• Mullai Nagar & Streets: Rs 1,300 per sq.ft (2024)
• M.T.H.Road: Rs 2,200 per sq.ft (2024)
• Mridul Sai Nagar: Rs 800 per sq.ft (2024)
• Modern City: Rs 2,420 per sq.ft (2024)
• Model St Kakkanji Nagar: Rs 800 per sq.ft (2024)
• M.K. Gandhi Street: Rs 988 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 803 per sq.ft, the total guideline value amounts to Rs 8,03,000. The stamp duty at 7% would be Rs 56,210, and the registration fee at 2% would be Rs 16,060, bringing the total cost for these fees to Rs 72,270. It is important to note that the duty is charged on the higher of the guideline value and 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 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 information.

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

The guideline value is a crucial factor in the registration process of property transactions in Thandurai. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When purchasing property, it is essential to be aware of the guideline value to ensure compliance with legal requirements during registration. This value is updated periodically, reflecting changes in the real estate market and local development, which can impact property transactions.

Frequently asked questions

What is the current guideline value of Mullai Nagar?

The current guideline value of Mullai Nagar is Rs 803 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 46 per sq.ft in 2002 to Rs 803 per sq.ft in 2024, showing an overall increase of 1646% across the years.

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

For a property valued at Rs 8,03,000, the stamp duty would be Rs 56,210, and the registration fee would be Rs 16,060, totaling Rs 72,270.

Which office handles property registrations in Mullai Nagar?

The Avadi Sub Registrar Office handles property registrations for Mullai Nagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration value for properties. It influences the calculation of stamp duty and registration fees, which are based on the higher of the guideline value or the sale price.