Guideline Value for Mullai Street

Mullai Street guideline value

The current guideline value of Mullai Street in 5. Athipattu village, under the Konnur SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - II.

How the guideline value of Mullai Street has changed

The guideline value for Mullai Street has experienced several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 has further increased the value to Rs 2,200 per sq.ft, reflecting a 10% change from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in 5. Athipattu

In 5. Athipattu, there are 119 streets under the Konnur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 7,650 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current value of Mullai Street.

• Munuswamy Street: Rs 2,750 per sq.ft (2024)
• Nadesan Nagar: Rs 2,750 per sq.ft (2024)
• Nageswara rao Road: Rs 3,601 per sq.ft (2024)
• M.G.R. Nagar: Rs 1,100 per sq.ft (2024)
• Mettu Street: Rs 1,600 per sq.ft (2024)
• Narmada Street (ICF Colony): Rs 2,400 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mullai Street?

The Sub Registrar Office that covers Mullai Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in 5. Athipattu

The guideline value is a crucial factor during the registration of property transactions in 5. Athipattu. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property in this area.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value. This value serves as a benchmark for assessing the property’s worth and calculating the associated fees during the registration process.

Frequently asked questions

What is the current guideline value of Mullai Street?

The current guideline value of Mullai Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What is the classification of Mullai Street?

Mullai Street is classified as Residential Class I Type - II under the Konnur SRO.

Where can I find the Konnur Sub Registrar Office?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the stamp duty calculated for properties on Mullai Street?

Stamp duty for properties on Mullai Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Registration fees are charged at 2% of the guideline value.