Guideline Value for Mullai Street Brindavan Nagar

Mullai Street Brindavan Nagar guideline value

The current guideline value of Mullai Street Brindavan Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Koyakbedu village and falls under the AnnaNagar SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Mullai Street Brindavan Nagar has changed

The guideline value for Mullai Street Brindavan Nagar has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 1,500 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012, marking a significant increase of 167%. However, in the 2017 revision, the value decreased to Rs 2,680 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 4,000 per sq.ft in 2023, before reaching the current rate of Rs 4,400 per sq.ft in the 2024 revision, an increase of 10% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 193%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Koyakbedu

Koyakbedu village has a total of 270 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which is equal to the current value for Mullai Street Brindavan Nagar.

• M.M.D.A. Whole Sale Market Shop No.TD 89 only: Rs 7,700 per sq.ft (2024)
• Mmda Wholesale Market A Road: Rs 7,700 per sq.ft (2024)
• MMDA Wholesale Market: Rs 7,700 per sq.ft (2024)
• Nadu Street (Centre Street): Rs 3,300 per sq.ft (2024)
• Mettu Kulam: Rs 2,200 per sq.ft (2024)
• Nehru Nagar: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Mullai Street Brindavan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total charges Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mullai Street Brindavan Nagar?

The Sub Registrar Office that covers Mullai Street Brindavan Nagar is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Koyakbedu. It serves as a benchmark for calculating stamp duty and registration fees during the registration process. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, but the higher of the two will be used for calculating the applicable duties.

When registering a property, it is essential to consult the latest guideline values to ensure compliance with local regulations. This ensures that both parties involved in the transaction are aware of the financial obligations related to the property transfer.

Frequently asked questions

What is the current guideline value of Mullai Street Brindavan Nagar?

The current guideline value of Mullai Street Brindavan Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 193% over the years.

What is the land classification for Mullai Street Brindavan Nagar?

The land classification for Mullai Street Brindavan Nagar is Residential Class I Type - II.

Which office handles registrations for Mullai Street Brindavan Nagar?

The AnnaNagar Sub Registrar Office handles registrations for Mullai Street Brindavan Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Koyakbedu?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at the current rate of 7%.