Guideline Value for Mullai Nagar Extn

Mullai Nagar Extn guideline value

The current guideline value of Mullai Nagar Extn is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Thirumullaivoyal village under the Ambattur SRO, classified as Residential Class IV Type - I.

How the guideline value of Mullai Nagar Extn has changed

The guideline value for Mullai Nagar Extn has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the guideline value was adjusted to Rs 1,200 per sq.ft, and then increased by 8% to Rs 1,300 per sq.ft in the 2024 revision.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value of Mullai Nagar Extn is below this median.

• Mullai Nagar: Rs 1,300 per sq.ft (2024)
• Mullai Street (Sri Sakthi Nagar): Rs 2,400 per sq.ft (2024)
• M.T.H. Road: Rs 5,500 per sq.ft (2024)
• Murugan Koil Avenue (Srinagar Colony): Rs 2,700 per sq.ft (2024)
• Murugan Koil Street(srinagar colony): Rs 2,700 per sq.ft (2024)
• Murugappa Colony: Rs 2,400 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 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mullai Nagar Extn?

The Mullai Nagar Extn area is covered by the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value as it impacts the overall transaction costs. Buyers should ensure that the sale price is not lower than the guideline value to avoid potential legal issues during registration.

Frequently asked questions

What is the current guideline value of Mullai Nagar Extn?

The current guideline value of Mullai Nagar Extn is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 1,200 per sq.ft in 2023, and then increased to Rs 1,300 per sq.ft in 2024, marking an overall increase of 8% from 2012 to 2024.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office covers Mullai Nagar Extn?

The Ambattur Sub Registrar Office covers Mullai Nagar Extn, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification for Mullai Nagar Extn?

The land classification for Mullai Nagar Extn is Residential Class IV Type - I, indicating its suitability for residential purposes.