Guideline Value for Mullai Nager Bakthavatchalam Street

Mullai Nager Bakthavatchalam Street guideline value

The current guideline value of Mullai Nager Bakthavatchalam Street is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Kovilpathagai village and falls under the Ambattur SRO, classified as Residential Special Type - I.

How the guideline value of Mullai Nager Bakthavatchalam Street has changed

The guideline value for Mullai Nager Bakthavatchalam Street has seen several revisions over the years. Starting from the 2012 revision, the value was Rs 1,100 per sq.ft, which decreased to Rs 737 per sq.ft in 2017. Following this, there was a significant increase to Rs 1,100 per sq.ft in 2023, and the current value is Rs 1,200 per sq.ft from the 2024 revision, marking a 9% increase from the previous year.

In summary, from 2012 to 2024, the overall change in the guideline value is a modest 9%. Notably, the register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median value across these streets is Rs 870 per sq.ft, placing Mullai Nager Bakthavatchalam Street above this median at Rs 1,200 per sq.ft.

• Mullai Nager: Rs 1,200 per sq.ft (2024)
• Mullai Nager Govindaraj Street: Rs 1,200 per sq.ft (2024)
• Mullai Nager Krishnan Street: Rs 1,200 per sq.ft (2024)
• Mullai Nager Rathinam Street: Rs 1,200 per sq.ft (2024)
• Mullai Nager Shankara Subbu Street: Rs 1,200 per sq.ft (2024)
• Mullai Nager Singaram Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mullai Nager Bakthavatchalam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total cost for these fees to Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mullai Nager Bakthavatchalam Street?

The Sub Registrar Office that covers Mullai Nager Bakthavatchalam Street 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 specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Kovilpathagai, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value serves as a reference point for calculating stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with local regulations during the registration process. This helps in avoiding any disputes or legal issues related to property transactions.

Frequently asked questions

What is the current guideline value for Mullai Nager Bakthavatchalam Street?

The current guideline value for Mullai Nager Bakthavatchalam Street is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then increased to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,200 per sq.ft in 2024.

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

For a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000 and the registration fee would be Rs 24,000, totaling Rs 1,08,000.

Which office handles the registration for this street?

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

What is the significance of the guideline value?

The guideline value is significant as it sets the minimum value for property registration, which affects the calculation of stamp duty and registration fees during property transactions.