Guideline Value for MAILLIKA STREET(GRAMA NEDUNCHALAI 4TH CROSS STREET)

Maillika Street(Grama Nedunchalai 4th Cross Street) guideline value

The current guideline value of Maillika Street(Grama Nedunchalai 4th Cross Street) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 under the Neelankarai SRO and is classified as Residential Class II Type - III.

How the guideline value of Maillika Street(Grama Nedunchalai 4th Cross Street) has changed

The guideline value for Maillika Street(Grama Nedunchalai 4th Cross Street) has seen significant changes over the years. In the 2017 revision, the value was Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in 2023, marking a 49% rise. The latest revision in 2024 brought the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. The register does not contain figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 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 Maillika Street(Grama Nedunchalai 4th Cross Street).

• Mallikeswari Lane: Rs 1,700 per sq.ft (2024)
• Mamallah Farms: Rs 1,700 per sq.ft (2024)
• Manickam Street: Rs 1,700 per sq.ft (2024)
• Manicka Vasagar Street(Grama Nedunchalai 37th Cross Street): Rs 2,200 per sq.ft (2024)
• Marbhi Street: Rs 1,700 per sq.ft (2024)
• L.R.Rajamanickam Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Maillika Street(Grama Nedunchalai 4th Cross Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these charges to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Maillika Street(Grama Nedunchalai 4th Cross Street)?

The Sub Registrar Office that covers Maillika Street(Grama Nedunchalai 4th Cross Street) is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

When buying or selling property in Sholinganallur - 1, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the government and is used as a reference point to calculate these charges, ensuring that they are based on an official valuation of the property.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall cost of the transaction. Understanding the guideline value helps in planning the financial aspects of property transactions in the area.

Frequently asked questions

What is the current guideline value of Maillika Street(Grama Nedunchalai 4th Cross Street)?

The current guideline value of Maillika Street(Grama Nedunchalai 4th Cross 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 changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What is the stamp duty for property in Maillika Street(Grama Nedunchalai 4th Cross Street)?

The stamp duty for property in Maillika Street(Grama Nedunchalai 4th Cross Street) is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Maillika Street(Grama Nedunchalai 4th Cross Street)?

The Sub Registrar Office for Maillika Street(Grama Nedunchalai 4th Cross Street) is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the guideline value determined?

The guideline value is determined by the government and is based on various factors, including land classification and location. It serves as a reference for calculating stamp duty and registration fees during property transactions.