Guideline Value for Mullai Nagar

Mullai Nagar guideline value

The current guideline value of Mullai Nagar, located in Siru Mathoor village under the Sriperumpudur SRO, is Rs 600 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Mullai Nagar has changed

Over the years, the guideline value for Mullai Nagar has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2024 revision. In contrast, the 2017 revision recorded a lower value of Rs 402 per sq.ft, reflecting a decrease of 33% from the 2012 figure. Subsequently, the value increased by 49% to Rs 600 per sq.ft in the 2023 revision, and it remained stable at this rate in the 2024 revision, indicating no change between 2023 and 2024.

The register does not contain figures for the revisions in 2002, 2003, and 2007 for this street. Therefore, the only available revisions are from 2012, 2017, 2023, and 2024.

Guideline values in Siru Mathoor

Siru Mathoor village has a total of 24 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 600 per sq.ft, which matches the current value for Mullai Nagar.

• Metro Green Grove House: Rs 600 per sq.ft (2024)
• Osuramman Koil street: Rs 600 per sq.ft (2024)
• Oviar Gramam: Rs 300 per sq.ft (2024)
• Padmavathy Nagar: Rs 150 per sq.ft (2024)
• Kundru Mettu Street: Rs 600 per sq.ft (2024)
• Kulakkarai street: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Mullai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total cost for these fees to Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mullai Nagar?

The Sub Registrar Office that covers Mullai Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Siru Mathoor, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value during negotiations, as it influences the applicable stamp duty and registration fees.

When purchasing property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of ownership. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mullai Nagar?

The current guideline value of Mullai Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Mullai Nagar has remained stable at Rs 600 per sq.ft from 2012 to 2024, with a previous decrease to Rs 402 per sq.ft in 2017. The value increased by 49% from 2017 to 2023.

What is the land classification of Mullai Nagar?

Mullai Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 6,00,000, the stamp duty would be Rs 42,000 and the registration fee would be Rs 12,000, totaling Rs 54,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Mullai Nagar located?

The Sub Registrar Office for Mullai Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.