Guideline Value

Corporate

Guideline Value for Mullai Nagar 1st Main Road

₹3850/sq.ft.

The guideline value for Mullai Nagar 1st Main Road in Ramapuram village (Chennai South Joint Ii SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Ramapuram

Village

Chennai South Joint II

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510538
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Mullai Nagar 1st Main Road

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Mullai Nagar 1st Main Road guideline value

The current guideline value of Mullai Nagar 1st Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This road is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Mullai Nagar 1st Main Road has changed

The guideline value for Mullai Nagar 1st Main Road has undergone several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was then reduced to Rs 2,345 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,500 per sq.ft. The most recent 2024 revision has further increased the value to Rs 3,850 per sq.ft, marking a 10% rise from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the value has increased by 10%. The register has no figures for this street for the years 2002, 2003, and 2007.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value among these streets is Rs 3,100 per sq.ft, placing Mullai Nagar 1st Main Road's 2024 figure above that median.

Stamp duty and registration fee for property in Mullai Nagar 1st Main Road

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, bringing the total fees together to Rs 3,46,500. 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 further calculations.

Which Sub Registrar Office covers Mullai Nagar 1st Main Road?

The Sub Registrar Office covering Mullai Nagar 1st Main Road is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Ramapuram. It serves as the base value for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. Buyers and sellers should be aware of these values to ensure compliance with local regulations during transactions.

Frequently asked questions

What is the current guideline value of Mullai Nagar 1st Main Road?

The current guideline value of Mullai Nagar 1st Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 3,500 per sq.ft in 2012, decreasing to Rs 2,345 per sq.ft in 2017, and then increasing to Rs 3,500 per sq.ft in 2023, finally reaching Rs 3,850 per sq.ft in 2024.

What is the land classification for Mullai Nagar 1st Main Road?

The land classification for Mullai Nagar 1st Main Road is Residential Class I Type - I.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 38,50,000 would incur a stamp duty of Rs 2,69,500 at 7%.

Where can I find the Sub Registrar Office for Mullai Nagar 1st Main Road?

The Sub Registrar Office for Mullai Nagar 1st Main Road is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.