Guideline Value for Mullai Nagar

Mullai Nagar guideline value

The current guideline value of Mullai Nagar, located in Thirumullaivoyal village under the Ambattur SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - I.

How the guideline value of Mullai Nagar has changed

The guideline value for Mullai Nagar has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 94 per sq.ft. This increased to Rs 125 per sq.ft in 2003, marking a 33% rise. The following revision in 2007 saw a significant jump to Rs 200 per sq.ft, which was a 60% increase. By 2012, the value remained at Rs 200 per sq.ft, and it did not change until the 2023 revision, where it was revised to Rs 1,200 per sq.ft.

The most recent revision in 2024 saw the guideline value increase to Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1283%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO, with a 2024 guideline value range from Rs 880 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, placing Mullai Nagar's 2024 figure below this median.

• Mullai Nagar Extn: Rs 1,300 per sq.ft (2024)
• Mullai Street (Sri Sakthi Nagar): Rs 2,400 per sq.ft (2024)
• M.T.H. Road: Rs 5,500 per sq.ft (2024)
• Murugan Koil Avenue (Srinagar Colony): Rs 2,700 per sq.ft (2024)
• Murugan Koil Street(srinagar colony): Rs 2,700 per sq.ft (2024)
• Murugappa Colony: Rs 2,400 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 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees together to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Mullai Nagar?

The Sub Registrar Office covering Mullai Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. To find your SRO, visit find your SRO.

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

When buying or selling property in Thirumullaivoyal, the guideline value is a crucial factor in determining the stamp duty and registration fees. The guideline value is set by the government and is used as a benchmark for property transactions.

At the time of registration, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Mullai Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 94 per sq.ft in 2002 to Rs 1,300 per sq.ft in 2024, showing an overall increase of 1283%.

What is the registration office for Mullai Nagar?

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

How is stamp duty calculated in Mullai Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 91,000.

What are the guideline values of other streets in Thirumullaivoyal?

Other streets in Thirumullaivoyal have varying guideline values, ranging from Rs 1,300 per sq.ft to Rs 5,500 per sq.ft in 2024. The median value for the area is Rs 2,400 per sq.ft.