Guideline Value for Mullai Nager Vanaja Street

Mullai Nager Vanaja Street guideline value

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

How the guideline value of Mullai Nager Vanaja Street has changed

The guideline value for Mullai Nager Vanaja 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 then rose again to the current rate of Rs 1,200 per sq.ft in 2024, marking a 9% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, and 2007 regarding this street.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 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 Vanaja Street's 2024 value above this median.

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

Stamp duty and registration fee for property in Mullai Nager Vanaja 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, making the total cost Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for accurate calculations based on specific properties.

Which Sub Registrar Office covers Mullai Nager Vanaja Street?

The Sub Registrar Office that covers Mullai Nager Vanaja 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 more about your 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 during the registration process of property transactions in Kovilpathagai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

Frequently asked questions

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

The current guideline value of Mullai Nager Vanaja 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 is the land classification for Mullai Nager Vanaja Street?

Mullai Nager Vanaja Street is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in the area?

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 registrations for Mullai Nager Vanaja Street?

The Ambattur Sub Registrar Office is responsible for handling registrations for Mullai Nager Vanaja Street, located at Ambattur-600 053, Chennai registration zone.