Guideline Value for Mullai Street

Mullai Street guideline value

The current guideline value of Mullai Street in Peerklankaranai village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Mullai Street has changed

The guideline value for Mullai Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was later reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and the latest 2024 revision has further increased it to Rs 1,320 per sq.ft, marking a 10% rise from the previous year.

From 2017 to 2023, there was a notable increase of 49%. However, the overall change from 2012 to 2024 shows a modest increase of 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peerklankaranai

In Peerklankaranai village, there are 322 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Mullai Street's 2024 figure below this median.

• Mullai Nagar 3ST: Rs 1,100 per sq.ft (2024)
• Mullai Nagar 2ST: Rs 1,100 per sq.ft (2024)
• Mullai Nagar 1ST: Rs 1,100 per sq.ft (2024)
• Mullai Malli Crosst st: Rs 1,320 per sq.ft (2024)
• Murugan Street: Rs 1,100 per sq.ft (2024)
• Muthamil 2nd Cross Street: Rs 1,320 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. 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 detailed calculations.

Which Sub Registrar Office covers Mullai Street?

Mullai Street is covered by the Tambaram Joint 1 Sub Registrar Office located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Peerklankaranai

The guideline value is a crucial factor during property registration in Peerklankaranai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is standardized and transparent.

Frequently asked questions

What is the current guideline value of Mullai Street?

The current guideline value of Mullai Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Mullai Street?

Mullai Street is classified as Residential Class I Type - III under the guideline value regulations.

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

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles the registration for Mullai Street?

The Tambaram Joint 1 Sub Registrar Office handles the registration for Mullai Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.