Guideline Value for MALAIMEDU (CHEN)

Malaimedu (Chen) guideline value

The current guideline value for Malaimedu (Chen) is Rs 660 per sq.ft, effective from 1 July 2024. This village falls under the Chengleput Joint II SRO and is classified as Residential Class I Type - III.

How the guideline value of Malaimedu (Chen) has changed

The guideline value for Malaimedu (Chen) has seen several revisions over the years. In 2012, the guideline value was Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in 2017. The value increased significantly by 49% to Rs 600 per sq.ft in 2023, followed by another increase of 10% to the current value of Rs 660 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The changes between the revisions are as follows: a decrease of 33% from 2012 to 2017, followed by an increase of 49% from 2017 to 2023, and a 10% increase from 2023 to 2024.

Guideline values in Sengundram - 1

In Sengundram - 1, there are 126 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 660 to Rs 3,285 per sq.ft. The median value is Rs 880 per sq.ft, indicating that the guideline value for Malaimedu (Chen) is below this median.

• Malleswaran Nagar (Chen): Rs 880 per sq.ft (2024)
• Malrosapuram (Chen): Rs 880 per sq.ft (2024)
• Maga Ganapathi Nagar (Chen): Rs 880 per sq.ft (2024)
• Mariyamman Koil Street (Chen): Rs 660 per sq.ft (2024)
• Lakshmi Narasimman Nagar (Chen): Rs 770 per sq.ft (2024)
• Maruthi Nagar (Chen): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Malaimedu (Chen)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Malaimedu (Chen)?

The Sub Registrar Office that covers Malaimedu (Chen) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Sengundram - 1. It serves as a baseline for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be sold or registered. This ensures transparency and fairness in property dealings, as it prevents underreporting of sale prices.

Frequently asked questions

What is the current guideline value for Malaimedu (Chen)?

The current guideline value for Malaimedu (Chen) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Malaimedu (Chen)?

Malaimedu (Chen) is classified as Residential Class I Type - III.

Where can I find the Chengleput Joint II SRO?

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

How is stamp duty calculated for properties in Malaimedu (Chen)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 at 7%.