Guideline Value for MAL RAJA AVENUE

Mal Raja Avenue guideline value

The current guideline value of Mal Raja Avenue in Padappai village, under the Padappai SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Class I Type - I.

How the guideline value of Mal Raja Avenue has changed

The guideline value for Mal Raja Avenue has seen significant changes over the years. In the 2017 revision, the value was Rs 2,010 per sq.ft. This increased to Rs 3,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft, with a median value of Rs 830 per sq.ft. Mal Raja Avenue's 2024 guideline value of Rs 3,300 per sq.ft is significantly above this median.

• Manish Nagar S.Nos.345/1b1, 1b2, 1b3: Rs 830 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,320 per sq.ft (2024)
• Mettu Street: Rs 1,320 per sq.ft (2024)
• Lakshmi Nagar: Rs 990 per sq.ft (2024)
• M.P.R Nagar: Rs 990 per sq.ft (2024)
• M.R.V.Nagar: Rs 830 per sq.ft (2024)

Stamp duty and registration fee for property in Mal Raja Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be 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 or the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mal Raja Avenue?

The Sub Registrar Office that covers Mal Raja Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Padappai. It serves as a reference point for determining the stamp duty and registration fees during the registration process. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When a property is bought or sold, the guideline value is used to calculate the applicable duties and fees, which are essential for the legal transfer of property ownership. It is important to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Mal Raja Avenue?

The current guideline value of Mal Raja Avenue 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 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the classification of land on Mal Raja Avenue?

Mal Raja Avenue is classified as Commercial Class I Type - I, which indicates its intended use for commercial purposes.

What are the stamp duty and registration fees for properties in Mal Raja Avenue?

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 is the Sub Registrar Office for Mal Raja Avenue located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.