Guideline Value for MULLAI STREET

Mullai Street guideline value

The current guideline value of Mullai Street in Kakkalur village is Rs 626 per sq.ft, effective from 1 July 2024. This street falls under the Tiruvallur Joint 1 SRO and is classified as Residential Class II Type - III.

How the guideline value of Mullai Street has changed

The guideline value for Mullai Street has seen several revisions over the years. In 2007, the value was Rs 100 per sq.ft. This increased significantly to Rs 625 per sq.ft in 2012, marking a 525% rise. However, it then decreased to Rs 419 per sq.ft in 2017, a decline of 33%. The value remained at Rs 626 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the increase is 526%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Kakkalur

Kakkalur village has a total of 133 streets under the Tiruvallur Joint 1 SRO with a guideline value range from Rs 400 to Rs 3,000 per sq.ft. The median guideline value is Rs 626 per sq.ft, which is equal to the 2024 figure for Mullai Street.

• Mps Nagar: Rs 800 per sq.ft (2024)
• M.P. City(22/2.22/3): Rs 626 per sq.ft (2024)
• Nanthavanam Street: Rs 626 per sq.ft (2024)
• Narasimhapuram & Extn: Rs 626 per sq.ft (2024)
• M.D.M. Nagar: Rs 800 per sq.ft (2024)
• Neelorpavamalar Street: Rs 626 per sq.ft (2024)

Stamp duty and registration fee for property in Mullai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 626 per sq.ft, the total guideline value would be Rs 6,26,000. The stamp duty at 7% would amount to Rs 43,820, and the registration fee at 2% would be Rs 12,520, totaling Rs 56,340. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mullai Street?

The Sub Registrar Office covering Mullai Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.N. Road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Kakkalur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs in any real estate transaction. Buyers should be aware of these values to ensure compliance with local regulations and to budget for the total costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Mullai Street?

The current guideline value of Mullai Street is Rs 626 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 100 per sq.ft in 2007 to Rs 626 per sq.ft in 2024, with various changes in between, including a significant rise of 525% from 2007 to 2012.

What is the registration office for Mullai Street?

The registration office for Mullai Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.N. Road, Taluk Office Compound, Thiruvallur-602001.

How is stamp duty calculated for properties in Kakkalur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,26,000, the stamp duty at 7% would be Rs 43,820.

What are the other streets in Kakkalur with similar guideline values?

Other streets in Kakkalur with a guideline value of Rs 626 per sq.ft include M.P. City(22/2.22/3), Nanthavanam Street, and Narasimhapuram & Extn, among others.