Guideline Value for Mullapalayam Street

Mullapalayam Street guideline value

The current guideline value of Mullapalayam Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in the 2nd Division village under the Kanchipuram Joint IV SRO and is classified as Residential Class II Type - II.

How the guideline value of Mullapalayam Street has changed

The guideline value for Mullapalayam Street has seen several revisions over the years. The earliest recorded value was Rs 300 per sq.ft in 2007, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a rise of 233%. However, this value decreased to Rs 670 per sq.ft in 2017, reflecting a decline of 33%. The value then rose to Rs 1,000 per sq.ft in 2023, before reaching the current figure of Rs 1,100 per sq.ft in 2024, representing a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for Mullapalayam Street. From 2017 to 2023, the guideline value increased by 49%, and overall, from 2007 to 2024, it has risen by 267%.

Guideline values in 2nd Division

In the 2nd Division village under the Kanchipuram Joint IV SRO, there are 101 streets with a 2024 guideline value ranging from Rs 800 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, indicating that Mullapalayam Street's current value is below this median.

• Munusamy Mudaliar Avenue: Rs 4,400 per sq.ft (2024)
• Munusamy Mudaliar Avenue Backside: Rs 3,300 per sq.ft (2024)
• Nagaluthu Medu Arasamara Street: Rs 1,100 per sq.ft (2024)
• Nagaluthu Street: Rs 1,100 per sq.ft (2024)
• Narayanapalayam Street: Rs 1,100 per sq.ft (2024)
• Mettu Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mullapalayam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. 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 Mullapalayam Street?

The Sub Registrar Office that covers Mullapalayam Street is the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 2nd Division

The guideline value is a crucial factor when registering property transactions in 2nd Division. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and fairly in the official records. It is essential for both buyers and sellers to be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Mullapalayam Street?

The current guideline value of Mullapalayam Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What are the other streets in the 2nd Division?

Other streets in the 2nd Division include Munusamy Mudaliar Avenue, Munusamy Mudaliar Avenue Backside, Nagaluthu Medu Arasamara Street, Nagaluthu Street, Narayanapalayam Street, and Mettu Street, each with their respective guideline values.

What is the stamp duty rate for properties in Mullapalayam Street?

The stamp duty rate for properties in Mullapalayam Street is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Mullapalayam Street is the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone.