Guideline Value for Mullai Nagar Main Road

Mullai Nagar Main Road guideline value

The current guideline value of Mullai Nagar Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Mullai Nagar Main Road has changed

The guideline value for Mullai Nagar Main Road has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 650% rise. However, it then decreased to Rs 2,010 per sq.ft in 2017, a reduction of 33%. The value rose to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 725%.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Mullai Nagar Main Road matches this median.

• Mullai Nagar (TNHB Colony): Rs 3,300 per sq.ft (2024)
• Mudichur Road(From Kakkan Street To Gandhi Road End): Rs 7,700 per sq.ft (2024)
• Mudichur Road(From G.S.T Road to Kakkan Street): Rs 6,600 per sq.ft (2024)
• Mudichur Road(From Gandhi Road End To Perungalathur Boundary): Rs 5,500 per sq.ft (2024)
• M.R. Chetty Street: Rs 1,320 per sq.ft (2024)
• MoogambigaiNagar Ext: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mullai Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 more detailed calculations.

Which Sub Registrar Office covers Mullai Nagar Main Road?

The Sub Registrar Office that covers Mullai Nagar Main Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Tambaram

The guideline value is a crucial factor when buying or selling property in Tambaram. It is used to determine the stamp duty and registration fees applicable at the time of registration. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during the registration process.

When a property is sold, the guideline value serves as a benchmark for the transaction. It ensures that the sale price is in line with the government’s valuation, which helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Mullai Nagar Main Road?

The current guideline value of Mullai Nagar Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 400 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 725% over the years.

What is the land classification for Mullai Nagar Main Road?

The land classification for Mullai Nagar Main Road is Residential Class I Type - I.

Where can I find the Tambaram Joint 1 SRO?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Tambaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. It is typically charged at 7%, while the registration fee is charged at 2% of the guideline value.