Guideline Value for Mullai Street

Mullai Street guideline value

The current guideline value of Mullai Street, located in Saligramam village under the Virugambakkam SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Mullai Street has changed

The guideline value for Mullai Street has undergone several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 512 per sq.ft. This value increased to Rs 559 per sq.ft in 2003, marking a change of +9%. The following revision in 2007 saw a significant jump to Rs 850 per sq.ft, an increase of +52%. In 2012, the value rose to Rs 3,000 per sq.ft, reflecting an increase of +253% from the previous revision.

From 2012 to 2017, the guideline value decreased to Rs 2,010 per sq.ft, a drop of -33%. The value then increased to Rs 3,000 per sq.ft in 2023, a rise of +49%. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, which is a +10% increase from the previous year.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with the 2024 guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for the area is Rs 4,400 per sq.ft, placing Mullai Street's 2024 figure below that median.

• Munusamy Street: Rs 4,950 per sq.ft (2024)
• Murugan Street: Rs 3,850 per sq.ft (2024)
• Muthukumaran Street: Rs 7,150 per sq.ft (2024)
• Muthukumarappa Road: Rs 9,900 per sq.ft (2024)
• Muthulakshmi Street: Rs 4,400 per sq.ft (2024)
• Muthuramalinga Street: Rs 5,500 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 to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mullai Street?

The Sub Registrar Office that covers Mullai Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Saligramam. It serves as a benchmark for determining the value of the property, which is essential for calculating stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value. This helps in maintaining transparency and accountability in property dealings within the region.

Frequently asked questions

What is the current guideline value of Mullai Street?

The current guideline value of Mullai Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 512 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +545% over the years.

What is the land classification for Mullai Street?

The land classification for Mullai Street is Residential Class III Type - I.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

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

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.