Guideline Value for Mullai Nagar 2nd Street

Mullai Nagar 2nd Street guideline value

The current guideline value of Mullai Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Mullai Nagar 2nd Street has changed

The guideline value for Mullai Nagar 2nd Street has seen revisions over the years. In 2012, the guideline value was set at Rs 2,000 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the guideline value increased to Rs 2,000 per sq.ft, and then further rose by 10% to Rs 2,200 per sq.ft in the 2024 revision. There are no figures available for the years 2002, 2003, 2007, and 2017 for this street.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The changes reflect a steady valuation with no fluctuations between 2012 and 2023, followed by a significant increase in 2024.

Guideline values in Madambakkam

In Madambakkam, there are 1151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this village is Rs 2,400 per sq.ft, placing Mullai Nagar 2nd Street's value below the median.

• Mullai Nagar: Rs 2,200 per sq.ft (2024)
• Mullai Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Mullai Nagar Extn: Rs 2,200 per sq.ft (2024)
• Mullai Nagar Extn Cross Street: Rs 2,200 per sq.ft (2024)
• Mullai Nagar Extn I: Rs 2,200 per sq.ft (2024)
• Mullai Nagar Extn II: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mullai Nagar 2nd Street

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 at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to 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 our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Mullai Nagar 2nd Street?

The Sub Registrar Office that covers Mullai Nagar 2nd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Madambakkam

The guideline value is a critical factor in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Mullai Nagar 2nd Street?

The current guideline value of Mullai Nagar 2nd Street 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 seen an increase from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, marking a 10% increase overall. There was no change in the value from 2012 to 2023.

What are the stamp duty and registration fees for a property in Mullai Nagar 2nd Street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Mullai Nagar 2nd Street?

The Selaiyur Sub Registrar Office handles the registration for Mullai Nagar 2nd Street. It is located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Mullai Nagar 2nd Street?

The land classification for Mullai Nagar 2nd Street is Residential Special Type - I, which indicates its designated use for residential purposes.