Guideline Value for Mullai Nagar

Mullai Nagar guideline value

The current guideline value of Mullai Nagar, located in Athur B Block village under the Chengleput Joint II SRO, is Rs 800 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - I.

How the guideline value of Mullai Nagar has changed

The guideline value for Mullai Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 800 per sq.ft. The 2017 revision marked a significant increase to Rs 536 per sq.ft, reflecting a change of -33% from the previous 2012 figure. Overall, from 2012 to 2024, the guideline value has remained stable at Rs 800 per sq.ft.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. The current 2024 guideline value is the same as the previous year, indicating no change from 2023 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Athur B Block

Athur B Block has 79 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 268 to Rs 1,525 per sq.ft. The median guideline value in this area is Rs 700 per sq.ft, placing Mullai Nagar's 2024 figure above that median.

• Mountain View: Rs 500 per sq.ft (2024)
• M.N. Nagar: Rs 500 per sq.ft (2024)
• Nisha Nagar: Rs 700 per sq.ft (2024)
• Mahalakshmi nagar: Rs 1,100 per sq.ft (2024)
• Palar Nagar: Rs 800 per sq.ft (2024)
• Kuberan Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Mullai Nagar

For a 1,000 sq.ft plot at the current rate of Rs 800 per sq.ft, the guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, totaling Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mullai Nagar?

The Chengleput Joint II Sub Registrar Office covers Mullai Nagar. The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Athur B Block

The guideline value is a crucial factor when registering property transactions in Athur B Block. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Mullai Nagar?

The current guideline value of Mullai Nagar is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 800 per sq.ft since 2012, with a significant increase of 49% from Rs 536 per sq.ft in 2017 to Rs 800 per sq.ft in 2023.

What is the land classification of Mullai Nagar?

The land classification for Mullai Nagar is Mixed Special Type - I, which indicates the type of development and usage permitted in the area.

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

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000 at a rate of 7%.