Guideline Value for Mullai Nagar Extn Cross Street

Mullai Nagar Extn Cross Street guideline value

The current guideline value of Mullai Nagar Extn Cross Street is Rs 2,200 per sq.ft. 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 Extn Cross Street has changed

The guideline value for Mullai Nagar Extn Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in the 2017 revision. However, the most recent 2024 revision has increased the value to Rs 2,200 per sq.ft, reflecting a change of +64% from 2017 to 2024 and an overall increase of +10% from 2012 to 2024.

It is important to note that there are no figures available for the years 2023, 2007, 2003, and 2002 for this street. The changes between the revisions indicate a significant fluctuation in the guideline value, particularly from 2012 to 2017, where there was a decrease of -33%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 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 area is Rs 2,400 per sq.ft, which means that the 2024 figure for Mullai Nagar Extn Cross Street is below this median.

• Mullai Nagar Extn: 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)
• Mullai Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Mullai Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Mullai Nagar Main Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mullai Nagar Extn Cross Street

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. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mullai Nagar Extn Cross Street?

The Sub Registrar Office that covers Mullai Nagar Extn Cross 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, within 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 crucial 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 government receives appropriate revenue from property transactions.

When a buyer or seller engages in a property transaction, the guideline value helps in calculating the stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the registration process, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Mullai Nagar Extn Cross Street?

The current guideline value of Mullai Nagar Extn Cross 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 changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, and then increased to Rs 2,200 per sq.ft in 2024. Notably, there was a decrease of -33% from 2012 to 2017.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft, which indicates that Mullai Nagar Extn Cross Street's 2024 guideline value is below this median.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot at the current guideline value of 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.

Which office handles property registrations for Mullai Nagar Extn Cross Street?

The Selaiyur Sub Registrar Office handles property registrations for Mullai Nagar Extn Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.