Guideline Value for Mullai Avenue

Mullai Avenue guideline value

The current guideline value of Mullai Avenue in Irumpuliyur village, under the Tambaram Joint 1 SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - II.

How the guideline value of Mullai Avenue has changed

The guideline value of Mullai Avenue has seen several revisions over the years. The earliest recorded figure is from 2012, where it was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 2,000 per sq.ft, and the most recent 2024 revision has set it at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the current guideline value of Mullai Avenue.

• MS.P. Lane: Rs 2,530 per sq.ft (2024)
• Mothilal Street: Rs 2,530 per sq.ft (2024)
• Murugesan Street: Rs 2,530 per sq.ft (2024)
• Muthamil Street: Rs 2,530 per sq.ft (2024)
• Middle Street: Rs 1,320 per sq.ft (2024)
• Nagathamman Koil Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Mullai Avenue

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 Avenue?

The Sub Registrar Office that covers Mullai Avenue is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Irumpuliyur. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the higher of the guideline value and the sale price is taken into account for calculating the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mullai Avenue?

The current guideline value of Mullai Avenue 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 from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Mullai Avenue?

Mullai Avenue is classified as Residential Special Type - II.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a plot of 1,000 sq.ft, the total fees amount to Rs 1,98,000.

Where is the Sub Registrar Office for Mullai Avenue located?

The Sub Registrar Office for Mullai Avenue is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.