Guideline Value for Mullai Street

Mullai Street guideline value

The current guideline value of Mullai Street in Adambakkam village, under the Alandur SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - III land classification.

How the guideline value of Mullai Street has changed

The guideline value for Mullai Street has seen several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 253 per sq.ft. This increased to Rs 650 per sq.ft in 2003, marking a significant rise of 157%. The value continued to grow, reaching Rs 900 per sq.ft in 2007, which was a 38% increase from the previous figure. In 2012, the value remained at Rs 3,500 per sq.ft, but then dropped to Rs 2,345 per sq.ft in 2017, a decrease of 33%.

From 2017 to 2023, the guideline value rose significantly to Rs 3,500 per sq.ft, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 3,900 per sq.ft, which is an 11% increase from 2023. Overall, from 2002 to 2024, the guideline value has increased by 1442%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is equal to the guideline value of Mullai Street.

• Murugan Nagar/Street: Rs 3,900 per sq.ft (2024)
• Mount Pazhandiamman Koil Street (Pazhandiamman koil street): Rs 5,000 per sq.ft (2024)
• Muthaiyal Nagar: Rs 3,900 per sq.ft (2024)
• Muthiyal Reddy 1st Street: Rs 3,900 per sq.ft (2024)
• Muthiyal Reddy Street: Rs 3,900 per sq.ft (2024)
• Muthiyal Reddy Street 2nd Lane: Rs 3,900 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 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000. Together, the total cost for stamp duty and registration would be Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mullai Street?

The Sub Registrar Office covering Mullai Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that need to be paid during the transaction.

During the registration process, the authorities will assess the property based on the guideline value to ensure that the transaction is in compliance with local regulations. This ensures transparency and helps in maintaining a standard for property transactions within the region.

Frequently asked questions

What is the current guideline value of Mullai Street?

The current guideline value of Mullai Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 253 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting a total increase of 1442% over the years.

What is the land classification for Mullai Street?

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

Where can I find the Sub Registrar Office for Mullai Street?

The Sub Registrar Office for Mullai Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Mullai Street?

Stamp duty for properties in Mullai Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty and registration fee of Rs 3,51,000.