Guideline Value for Mullai Street

Mullai Street guideline value

The current guideline value of Mullai Street in Selaiyur village, under the Selaiyur SRO, is Rs 1,400 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Mullai Street has changed

The guideline value for Mullai Street has undergone several revisions over the years. In 2007, the guideline value was set at Rs 400 per sq.ft. This increased significantly to Rs 1,300 per sq.ft in 2012, marking a rise of 225%. However, by 2017, the value decreased to Rs 871 per sq.ft, a drop of 33%. The value then rose sharply to Rs 1,300 per sq.ft in 2023, followed by another increase to Rs 1,400 per sq.ft in 2024, reflecting an 8% change.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 250%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for Mullai Street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in this village is Rs 2,200 per sq.ft, indicating that Mullai Street's current value is below this median.

• Munirathinam Street: Rs 1,100 per sq.ft (2024)
• Munirathinam Street 1st Lane: Rs 1,100 per sq.ft (2024)
• Munirathinam Street 2nd Lane: Rs 1,100 per sq.ft (2024)
• Munisundaram Street: Rs 1,100 per sq.ft (2024)
• Murugesan Nagar: Rs 850 per sq.ft (2024)
• Murugesan Street: Rs 850 per sq.ft (2024)

Stamp duty and registration fee for property in Mullai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value amounts to Rs 14,00,000. The stamp duty at 7% would be Rs 98,000, and the registration fee at 2% would be Rs 28,000, bringing the total cost to Rs 1,26,000. 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 more specific calculations.

Which Sub Registrar Office covers Mullai Street?

The Sub Registrar Office that covers Mullai Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mullai Street?

The current guideline value of Mullai Street is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,400 per sq.ft in 2024, reflecting an overall increase of 250% over this period.

What is the land classification of Mullai Street?

Mullai Street is classified as Residential Class III Type - I according to the local land classification.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for property in Mullai Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the guideline value of Rs 1,400 per sq.ft would incur a total stamp duty of Rs 98,000.