Guideline Value for Mullai Nager Shankara Subbu Street

Mullai Nager Shankara Subbu Street guideline value

The current guideline value of Mullai Nager Shankara Subbu 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. The land classification for this area is Residential Special Type - I.

How the guideline value of Mullai Nager Shankara Subbu Street has changed

The guideline value for Mullai Nager Shankara Subbu Street has seen several revisions over the years. In 2012, the value was Rs 1,100 per sq.ft, which then decreased to Rs 737 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,100 per sq.ft in 2023, and it has now risen to Rs 1,200 per sq.ft in 2024, marking a 9% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is +9%. The changes from 2017 to 2023 showed a notable increase of 49%, while the 2012 to 2017 period experienced a decrease of 33%. The register has no figures for the years 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 guideline value for this village is Rs 870 per sq.ft, placing Mullai Nager Shankara Subbu Street above that median.

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

Stamp duty and registration fee for property in Mullai Nager Shankara Subbu 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 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 use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Mullai Nager Shankara Subbu Street?

The Mullai Nager Shankara Subbu Street falls under the jurisdiction of 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 is a crucial factor in the registration process when buying or selling property in Kovilpathagai. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations during the transaction.

Frequently asked questions

What is the current guideline value of Mullai Nager Shankara Subbu Street?

The current guideline value of Mullai Nager Shankara Subbu 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 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 properties in this street?

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 Mullai Nager Shankara Subbu Street?

The Ambattur Sub Registrar Office is responsible for the registration of properties in Mullai Nager Shankara Subbu Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053.

What is the median guideline value in Kovilpathagai?

The median guideline value in Kovilpathagai is Rs 870 per sq.ft, with Mullai Nager Shankara Subbu Street's value being above this median at Rs 1,200 per sq.ft.