Guideline Value for MULLAI STREET VGP SHANTHI NAGAR

Mullai Street Vgp Shanthi Nagar guideline value

The current guideline value of Mullai Street Vgp Shanthi Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Mullai Street Vgp Shanthi Nagar has changed

The guideline value for Mullai Street Vgp Shanthi Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 2,500 per sq.ft. Looking further back, the value was Rs 1,675 per sq.ft in 2017, marking a significant increase of 49% to the 2023 figure. In 2012, the value was Rs 2,500 per sq.ft, which was a decrease of 33% from the previous revision in 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

The register does not provide figures for the years 2002, 2003, and 2007 for this street. This lack of data means we cannot assess any changes during those years.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, placing Mullai Street Vgp Shanthi Nagar's 2024 figure above the median.

• Munci Colony: Rs 1,320 per sq.ft (2024)
• M.O.C Nagar Cross Street: Rs 1,320 per sq.ft (2024)
• M.O.C. Nagar 3rd Street: Rs 1,320 per sq.ft (2024)
• M.O.C. Nagar 2nd Street: Rs 1,320 per sq.ft (2024)
• M.O.C. Nagar 1st Street: Rs 1,320 per sq.ft (2024)
• Muvendar Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Mullai Street Vgp Shanthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mullai Street Vgp Shanthi Nagar?

The Sub Registrar Office that covers Mullai Street Vgp Shanthi Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling a property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the agreed sale price, which impacts the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Mullai Street Vgp Shanthi Nagar?

The current guideline value of Mullai Street Vgp Shanthi Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, showing a 10% increase. It was Rs 1,675 per sq.ft in 2017, which increased by 49% to the 2023 figure.

Are there any years without guideline values for Mullai Street?

Yes, the register does not provide figures for the years 2002, 2003, and 2007 for Mullai Street Vgp Shanthi Nagar.

What is the median guideline value in Pallikaranai?

The median guideline value in Pallikaranai is Rs 1,650 per sq.ft, which is below the current guideline value of Mullai Street Vgp Shanthi Nagar.

Where can I find the Sub Registrar Office for Mullai Street Vgp Shanthi Nagar?

The Sub Registrar Office for Mullai Street Vgp Shanthi Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.