Guideline Value for Mullai Nager Krishnan Street

Mullai Nager Krishnan Street guideline value

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

How the guideline value of Mullai Nager Krishnan Street has changed

Over the years, the guideline value for Mullai Nager Krishnan Street has seen several revisions. The 2012 revision set the value at Rs 1,100 per sq.ft, which then changed to Rs 737 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,100 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,200 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, there was a decrease of 33%, while the value increased by 49% from 2017 to 2023. The overall change from 2012 to 2024 reflects a 9% increase, culminating in the current guideline value of Rs 1,200 per sq.ft.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with 2024 guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for these streets is Rs 870 per sq.ft, placing Mullai Nager Krishnan Street above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mullai Nager Krishnan Street?

The Sub Registrar Office that covers Mullai Nager Krishnan Street is the Ambattur Sub Registrar Office. The office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kovilpathagai. It is the value determined by the government for various purposes, including calculating stamp duty and registration fees, which are mandatory during property transactions.

When a property is sold, the guideline value is used to ensure that the transaction is recorded at a fair value. Buyers and sellers must be aware of this value to understand the financial implications of their property transactions accurately.

Frequently asked questions

What is the current guideline value of Mullai Nager Krishnan Street?

The current guideline value of Mullai Nager Krishnan 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 back to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,200 per sq.ft in 2024.

What is the land classification for Mullai Nager Krishnan Street?

The land classification for Mullai Nager Krishnan Street is Residential Special Type - I.

Where can I find the Sub Registrar Office for this street?

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

How is the stamp duty calculated for properties in Kovilpathagai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at Rs 1,200 per sq.ft, the total guideline value is Rs 12,00,000, leading to a stamp duty of Rs 84,000.