Guideline Value for Mullai Nagar Extn

Mullai Nagar Extn guideline value

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

How the guideline value of Mullai Nagar Extn has changed

The guideline value for Mullai Nagar Extn has seen revisions over the years. The earliest available revision in the register is from 2012, which set the guideline value at Rs 2,000 per sq.ft. The most recent revision in 2024 increased this value to Rs 2,200 per sq.ft, marking a 10% increase from the 2012 figure. There are no figures available for the revisions in 2002, 2003, 2007, 2017, and 2023 for this street.

In summary, the guideline value has increased from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024. This reflects a steady rise in the valuation of the property in this area over the years.

Guideline values in Madambakkam

In Madambakkam, there are 1151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, placing Mullai Nagar Extn's 2024 figure below this median.

• 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)
• 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

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 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.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mullai Nagar Extn?

The Sub Registrar Office that covers Mullai Nagar Extn 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 an essential factor during the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded at a value recognized by the government.

Frequently asked questions

What is the current guideline value of Mullai Nagar Extn?

The current guideline value of Mullai Nagar Extn is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, representing a 10% increase. There are no figures available for the revisions in 2002, 2003, 2007, 2017, and 2023 for this street.

What is the median guideline value in Madambakkam?

The median guideline value for streets in Madambakkam is Rs 2,400 per sq.ft. Mullai Nagar Extn's current guideline value is below this median.

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

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

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.