Guideline Value for Mullai Nagarr

Mullai Nagarr guideline value

The current guideline value of Mullai Nagarr is Rs 990 per sq.ft. This street is located in Varadarajapuram village, under the Padappai Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - I.

How the guideline value of Mullai Nagarr has changed

The guideline value for Mullai Nagarr has seen several revisions over the years. In the 2007 revision, the value was Rs 120 per sq.ft, which increased significantly to Rs 900 per sq.ft in the 2012 revision. However, in the 2017 revision, the value dropped to Rs 603 per sq.ft. The 2023 revision raised the value to Rs 900 per sq.ft, and the most recent 2024 revision set it at Rs 990 per sq.ft. The register has no figures for the years 2002 and 2003.

Between the revisions, there have been notable changes. From 2007 to 2012, the value increased by 650%. However, from 2012 to 2017, there was a decrease of 33%. The value then rose by 49% from 2017 to 2023, and the latest revision from 2023 to 2024 saw an increase of 10%. Overall, from 2007 to 2024, the guideline value has increased by 725%.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value for Mullai Nagarr is below this median.

• Mullai Nagar: Rs 990 per sq.ft (2024)
• Mudichur Road: Rs 3,300 per sq.ft (2024)
• Muthu Murugan Nagar: Rs 990 per sq.ft (2024)
• Mv Generation Mgr Nagar: Rs 3,370 per sq.ft (2024)
• Naduveerapattu - Tambaram Road: Rs 1,650 per sq.ft (2024)
• Nannilam Nagar: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Mullai Nagarr

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, totaling Rs 89,100. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mullai Nagarr?

The Padappai Sub Registrar Office covers Mullai Nagarr, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Varadarajapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a property is registered, the guideline value is compared with the sale price. The higher of the two is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mullai Nagarr?

The current guideline value of Mullai Nagarr is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 120 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, marking an overall increase of 725% over the years.

What is the land classification for Mullai Nagarr?

The land classification for Mullai Nagarr is Residential Class III Type - I, indicating its designation for residential use.

What are the stamp duty rates for properties in Mullai Nagarr?

The stamp duty rate for properties in Mullai Nagarr is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

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

The Padappai Sub Registrar Office, which covers Mullai Nagarr, is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.