Guideline Value for Mullai Street

Mullai Street guideline value

The current guideline value of Mullai Street, located in Kodambakkam village under the Ashok Nagar SRO, is Rs 3,300 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Mullai Street has changed

The guideline value for Mullai Street has seen significant changes over the years. In the 2007 revision, the value was Rs 800 per sq.ft, which increased to Rs 2,010 per sq.ft in the 2017 revision, marking a rise of 151%. The 2023 revision brought the guideline value up to Rs 3,000 per sq.ft, reflecting a 49% increase from the previous revision. The most recent 2024 revision saw another increase of 10%, bringing the current value to Rs 3,300 per sq.ft.

There are no figures available in the register for the years 2002, 2003, and 2012 for Mullai Street. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Kodambakkam

Mullai Street's 2024 guideline value of Rs 3,300 per sq.ft is below the median value of Rs 4,900 per sq.ft for the 1,031 streets in Kodambakkam under the Ashok Nagar SRO, which range from Rs 2,200 to Rs 11,000 per sq.ft.

• Munusamy Maistry StreetBharathi Block: Rs 3,300 per sq.ft (2024)
• Munusamy Street Block 79: Rs 3,300 per sq.ft (2024)
• Munusamy Street Block 94: Rs 3,300 per sq.ft (2024)
• Murasolimaran Street: Rs 3,300 per sq.ft (2024)
• Mrs. Indiragandhi Street: Rs 3,300 per sq.ft (2024)
• Murthy Street: Rs 6,600 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees together to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Mullai Street?

The Sub Registrar Office covering Mullai Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodambakkam. It determines the minimum value at which the property must be registered, ensuring that the transaction is documented at a fair value as per government regulations.

When registering a property, buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives its due 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 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 313% across the revisions.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, these fees would total Rs 2,97,000.

Which office handles property registrations in Kodambakkam?

The Ashok Nagar Sub Registrar Office handles property registrations in Kodambakkam, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Mullai Street?

The land classification for Mullai Street is Residential Class IV Type - II, which indicates its designated use for residential purposes.