Guideline Value for MALAI STREET VEERAPATHINAR STREET

Malai Street Veerapathinar Street guideline value

The current guideline value for Malai Street Veerapathinar Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chengalpattu Natham village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - I.

How the guideline value of Malai Street Veerapathinar Street has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This figure remained unchanged in the 2017 revision, where it dropped to Rs 1,005 per sq.ft, marking a decrease of 33%. The value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, followed by another increase to Rs 1,650 per sq.ft in the 2024 revision, reflecting a 10% rise. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10% despite the fluctuations in the intervening years.

Guideline values in Chengalpattu Natham

In Chengalpattu Natham, there are 88 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which means that Malai Street Veerapathinar Street's current guideline value is below this median.

• Malai Street: Rs 1,650 per sq.ft (2024)
• Malaimedu Ward -4: Rs 1,650 per sq.ft (2024)
• Masuthi Malai Street: Rs 1,100 per sq.ft (2024)
• Kuppusamy Naidu Street(Valayalkara Street): Rs 2,750 per sq.ft (2024)
• Mohammadhiar School Road Ward- 4: Rs 2,200 per sq.ft (2024)
• Kolunthuyamman Kovil Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Malai Street Veerapathinar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value comes to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Malai Street Veerapathinar Street?

The Malai Street Veerapathinar Street falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a standard reference used during property registration in Chengalpattu Natham. It serves as the basis for calculating the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value ensures that the transaction is documented at a fair price according to the local real estate market. This helps maintain transparency in property transactions and ensures that the government receives the appropriate revenue from stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Malai Street Veerapathinar Street?

The current guideline value of Malai Street Veerapathinar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Malai Street Veerapathinar Street?

Malai Street Veerapathinar Street is classified as Residential Class I Type - I.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at 7%.