Guideline Value for Mulla thottam

Mulla thottam guideline value

The current guideline value of Mulla thottam is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class II Type - I.

How the guideline value of Mulla thottam has changed

The guideline value for Mulla thottam has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, between 2012 and 2017, the value decreased to Rs 1,340 per sq.ft. The 2023 revision marked a substantial increase to Rs 2,000 per sq.ft, followed by another rise to Rs 2,200 per sq.ft in 2024. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%. The transition from 2012 to 2017 saw a decrease of 33%. The remarkable increase from 2007 to 2012 was 233%. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO, with guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is the same as the current value for Mulla thottam. This indicates that Mulla thottam is aligned with the median value in the village.

• Munikrishna nagar: Rs 2,200 per sq.ft (2024)
• Mudthal board school varai: Rs 2,200 per sq.ft (2024)
• Mohana nagar: Rs 2,200 per sq.ft (2024)
• Mohamed quarters: Rs 2,200 per sq.ft (2024)
• Muthamizh nagar: Rs 2,200 per sq.ft (2024)
• M.M.Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mulla thottam

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, calculated at 7%, would be Rs 1,54,000, and the registration fee at 2% would amount to Rs 44,000. Therefore, the total cost for stamp duty and registration fees together would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator to estimate your costs accurately.

Which Sub Registrar Office covers Mulla thottam?

The Sub Registrar Office that covers Mulla thottam is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. For more information, you can find your SRO.

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

The guideline value is a critical factor in property transactions in Poonthamallee. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Additionally, the guideline value helps in establishing a baseline for property pricing in the area. It serves as a reference point for both buyers and sellers to negotiate and finalize the sale price of a property.

Frequently asked questions

What is the current guideline value of Mulla thottam?

The current guideline value of Mulla thottam is Rs 2,200 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 600 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 267% over the years.

What are the stamp duty rates for property transactions in Mulla thottam?

The stamp duty for property transactions in Mulla thottam is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Mulla thottam?

The Sub Registrar Office for Mulla thottam is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.

What are the guideline values for other streets in Poonthamallee?

Other streets in Poonthamallee have guideline values that also reflect the current rate of Rs 2,200 per sq.ft, including Munikrishna nagar, Mudthal board school varai, Mohana nagar, Mohamed quarters, Muthamizh nagar, and M.M.Nagar.