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 area is located in Vallancheri village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class I Type - III.

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

In the 2012 revision, the guideline value was Rs 700 per sq.ft. This figure then decreased to Rs 469 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 700 per sq.ft. The most recent revision in 2024 saw an increase to Rs 770 per sq.ft, which is a rise of 10% from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO, with guideline values for 2024 ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for the village is Rs 825 per sq.ft, and the guideline value for Malaiadivaaram (Ward -1) is below this median.

• 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 rate of Rs 770 per sq.ft, the guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. Please 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 details.

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

The Sub Registrar Office that covers Malaiadivaaram (Ward -1) is the Chengleput Joint II Sub Registrar Office, 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 Vallancheri

The guideline value is a crucial factor when registering property transactions in Vallancheri. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, both the buyer and seller must consider the guideline value, as it influences the overall cost of the transaction. The registration process requires that the property be valued at or above the guideline value, thereby safeguarding the interests of all parties involved.

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 are the other streets with similar guideline values in Vallancheri?

Other streets in Vallancheri with similar guideline values include Malai Mettu Street, Malaipuram Extention, and Maragatham Nagar Vallancheri, all at Rs 770 per sq.ft for 2024.

What is the stamp duty rate for properties in Malaiadivaaram (Ward -1)?

The stamp duty rate for properties in Malaiadivaaram (Ward -1) is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Malaiadivaaram (Ward -1)?

The Sub Registrar Office for Malaiadivaaram (Ward -1) is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, under the Chengleput Joint II registration zone.