Guideline Value for Mullai Nager Rathinam Street

Mullai Nager Rathinam Street guideline value

The current guideline value of Mullai Nager Rathinam Street is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Kovilpathagai village under the Ambattur Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - I.

How the guideline value of Mullai Nager Rathinam Street has changed

In the 2012 revision, the guideline value was Rs 1,100 per sq.ft. This figure remained until the 2017 revision, which saw a decrease to Rs 737 per sq.ft. Following this, the value increased significantly to Rs 1,100 per sq.ft in the 2023 revision, and then rose again to Rs 1,200 per sq.ft in the 2024 revision, marking a 9% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. Overall, comparing the figures from 2012 to 2024, there has been a net increase of 9%.

Guideline values in Kovilpathagai

In Kovilpathagai, there are 278 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 803 to Rs 2,900 per sq.ft. The median value for these streets is Rs 870 per sq.ft, placing Mullai Nager Rathinam Street above this median.

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

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

For a 1,000 sq.ft plot at the current rate, the 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 to Rs 1,08,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mullai Nager Rathinam Street?

The Sub Registrar Office that covers Mullai Nager Rathinam Street is the Ambattur Sub Registrar Office, 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 is a crucial factor in the registration process when buying or selling property in Kovilpathagai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted at a fair value.

During the registration process, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for all property transactions. This ensures that both the buyer and seller are aware of the financial implications involved in the sale or purchase of the property.

Frequently asked questions

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

The current guideline value of Mullai Nager Rathinam 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 seen various changes, from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then increasing 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 Rathinam Street?

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

Where can I find the Ambattur Sub Registrar Office?

The Ambattur Sub Registrar Office 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 property valued at Rs 12,00,000, the stamp duty at 7% would be Rs 84,000.