Guideline Value for Mullai Nagar II

Mullai Nagar II guideline value

The current guideline value of Mullai Nagar II, located in Vilvarayanalloor village under the Madurandakam SRO, is Rs 200 per sq.ft. This value is effective from the 2024 revision, which took place on 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Mullai Nagar II has changed

The guideline value for Mullai Nagar II has seen several revisions over the years. In 2007, the value was Rs 40 per sq.ft, which increased significantly to Rs 200 per sq.ft in 2012, marking a 400% rise. However, from 2012 to 2017, the value decreased to Rs 134 per sq.ft, representing a decline of 33%. The value then rose again to Rs 200 per sq.ft in 2023, and it remained unchanged at Rs 200 per sq.ft in the 2024 revision, indicating no percentage change from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 400% from its initial value of Rs 40 per sq.ft.

Guideline values in Vilvarayanalloor

In Vilvarayanalloor, there are 23 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 101 to Rs 300 per sq.ft, with the median value being Rs 200 per sq.ft. The guideline value for Mullai Nagar II aligns with this median, reflecting the current rate of Rs 200 per sq.ft.

• Mullai Nagar Extension -III: Rs 200 per sq.ft (2024)
• Mullai Nagar: Rs 200 per sq.ft (2024)
• Malligai Nagar: Rs 200 per sq.ft (2024)
• Poonguzhali Amman Nagar: Rs 200 per sq.ft (2024)
• Prakash Park .. Malini Garden: Rs 200 per sq.ft (2024)
• Ramalingam Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Mullai Nagar II

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees together to Rs 18,000. It is important to note that the 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 II?

The Sub Registrar Office that covers Mullai Nagar II is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. To find your specific SRO, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vilvarayanalloor. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value helps in assessing the appropriate fees that need to be paid to the government. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during the registration process and to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Mullai Nagar II?

The current guideline value of Mullai Nagar II is Rs 200 per sq.ft, effective from the 2024 revision that started on 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, starting from Rs 40 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, then decreasing to Rs 134 per sq.ft in 2017, and returning to Rs 200 per sq.ft in both 2023 and 2024.

What is the land classification for Mullai Nagar II?

The land classification for Mullai Nagar II is Residential Special Type - I, indicating its designated use within the local planning framework.

Where can I find the Sub Registrar Office for Mullai Nagar II?

The Madurandakam Sub Registrar Office, which covers Mullai Nagar II, is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated for property in Mullai Nagar II?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft would incur a total stamp duty of Rs 14,000.