Guideline Value for MALAIADIVAARAM (WARD -1)

Malaiadivaaram (Ward -1) guideline value

The current guideline value of Malaiadivaaram (Ward -1) is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Potheri village under the Chengleput Joint II SRO and falls under the Residential Class I Type - III land classification.

How the guideline value of Malaiadivaaram (Ward -1) has changed

The guideline value for Malaiadivaaram (Ward -1) has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 700 per sq.ft. This figure remained unchanged until the next revision in 2017, where it decreased to Rs 469 per sq.ft. However, the value saw a significant increase to Rs 700 per sq.ft in 2023, followed by a further increase to Rs 770 per sq.ft in 2024, marking a 10% rise from the previous year.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The median guideline value is Rs 770 per sq.ft, which is equal to the current guideline value of Malaiadivaaram (Ward -1).

• Malai Mettu Street (Ward -1): Rs 770 per sq.ft (2024)
• Malaipuram Extention (Ward -1): Rs 770 per sq.ft (2024)
• Malar Avenue (Ward -1): Rs 880 per sq.ft (2024)
• Maragatham Nagar Vallancheri (Ward -1): Rs 770 per sq.ft (2024)
• Lancor Uds: Rs 1,980 per sq.ft (2024)
• Kumaran 2st Street (Ward-20): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Malaiadivaaram (Ward -1)

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, while the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Malaiadivaaram (Ward -1)?

The Chengleput Joint II Sub Registrar Office covers Malaiadivaaram (Ward -1). The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Potheri, as it determines the amount of stamp duty and registration fees payable at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations and to accurately calculate their costs.

When a property is registered, the guideline value serves as a benchmark for the transaction. If the sale price is higher than the guideline value, the stamp duty is calculated based on the sale price. This ensures that the government receives the appropriate fees based on the actual market conditions.

Frequently asked questions

What is the current guideline value of Malaiadivaaram (Ward -1)?

The current guideline value of Malaiadivaaram (Ward -1) is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification of Malaiadivaaram (Ward -1)?

Malaiadivaaram (Ward -1) is classified as Residential Class I Type - III.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is stamp duty calculated for properties in Malaiadivaaram (Ward -1)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 at a rate of 7%.