Guideline Value for Mullai Nagar (TNHB Colony)

Mullai Nagar (TNHB Colony) guideline value

The current guideline value of Mullai Nagar (TNHB Colony) is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village and falls under the Tambaram Joint 1 SRO, classified as Residential Class I Type - I.

How the guideline value of Mullai Nagar (TNHB Colony) has changed

Over the years, the guideline value of Mullai Nagar has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value back to Rs 3,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 3,300 per sq.ft.

Looking at the changes, from 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The transition from 2023 to 2024 saw a 10% rise, bringing the overall change from 2012 to 2024 to a 10% increase.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which matches the current value for Mullai Nagar.

• Mullai Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Mudichur Road(From Kakkan Street To Gandhi Road End): Rs 7,700 per sq.ft (2024)
• Mudichur Road(From G.S.T Road to Kakkan Street): Rs 6,600 per sq.ft (2024)
• Mudichur Road(From Gandhi Road End To Perungalathur Boundary): Rs 5,500 per sq.ft (2024)
• M.R. Chetty Street: Rs 1,320 per sq.ft (2024)
• MoogambigaiNagar Ext: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mullai Nagar (TNHB Colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 for more details on fees applicable to your property transactions.

Which Sub Registrar Office covers Mullai Nagar (TNHB Colony)?

The Sub Registrar Office that covers Mullai Nagar (TNHB Colony) is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor during property registration in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

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

Frequently asked questions

What is the current guideline value of Mullai Nagar (TNHB Colony)?

The current guideline value of Mullai Nagar (TNHB Colony) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Mullai Nagar?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations in Mullai Nagar?

The Tambaram Joint 1 Sub Registrar Office handles property registrations in Mullai Nagar (TNHB Colony), located at No.26, mes Road, East Tambaram, Chennai-600059.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value of a property, which in turn affects the stamp duty and registration fees that must be paid during a property transaction.