Guideline Value for Mullai Nagar

Mullai Nagar guideline value

The current guideline value of Mullai Nagar in Ayappakkam village is Rs 1,100 per sq.ft, effective from 1 July 2024. This area falls under the Ambattur Sub Registrar Office and is classified as Residential Class I Type - II.

How the guideline value of Mullai Nagar has changed

The guideline value for Mullai Nagar has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased to Rs 1,000 per sq.ft in 2012. However, the value then decreased to Rs 670 per sq.ft in 2017. The 2023 revision saw a significant increase to Rs 1,000 per sq.ft, followed by the current value of Rs 1,100 per sq.ft from the 2024 revision. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%, and from 2023 to 2024, the value increased by 10%. Overall, from 2007 to 2024, the guideline value has increased by 83%.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft, with a median value of Rs 1,300 per sq.ft. The guideline value of Mullai Nagar is below this median.

• Mullai street: Rs 1,700 per sq.ft (2024)
• Mullai Street(Iyappan nagar extn.): Rs 1,700 per sq.ft (2024)
• M.S.Nagar: Rs 1,300 per sq.ft (2024)
• Murugan Koil 1st Cross Street (Iyappan nagar): Rs 1,700 per sq.ft (2024)
• Murugan Koil 2nd Cross Street (Iyappan nagar): Rs 1,700 per sq.ft (2024)
• Murugan Koil Street (Iyappan nagar): Rs 1,700 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total cost for these fees Rs 99,000. It is important to note that 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?

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

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

When buying or selling property in Ayappakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives a fair amount during property transactions.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration. This value is regularly updated, reflecting changes in the real estate landscape of the area.

Frequently asked questions

What is the current guideline value of Mullai Nagar?

The current guideline value of Mullai Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, showing an overall increase of 83% over the years.

What is the land classification of Mullai Nagar?

Mullai Nagar is classified as Residential Class I Type - II under the current guidelines.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher.

Which office handles the registration for Mullai Nagar?

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