Guideline Value for MALAIMEDU WARD -4

Malaimedu Ward -4 guideline value

The current guideline value for Malaimedu Ward -4, located in Chengalpattu Natham village under the Chengleput Joint II SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Malaimedu Ward -4 has changed

The guideline value for this area has seen several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft. This figure remained unchanged in the 2017 revision, where it dropped to Rs 1,005 per sq.ft. The 2023 revision increased the guideline value to Rs 1,500 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,650 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a slight increase of 10%. The most recent change from 2023 to 2024 reflects a 10% rise in the guideline value.

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 value for these streets is Rs 2,200 per sq.ft, indicating that Malaimedu Ward -4's 2024 figure is below this median.

• Malai Street: Rs 1,650 per sq.ft (2024)
• Malai Street Veerapathinar Street: 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 Malaimedu Ward -4

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts 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, bringing the total cost for these fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Malaimedu Ward -4?

The Chengleput Joint II Sub Registrar Office covers Malaimedu Ward -4. The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions in Chengalpattu Natham. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value serves as a benchmark for assessing the transaction value. This ensures that the government receives the appropriate revenue from property transactions, which is calculated based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value for Malaimedu Ward -4?

The current guideline value for Malaimedu Ward -4 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 2023 to Rs 1,650 per sq.ft in 2024. It was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What is the land classification for Malaimedu Ward -4?

Malaimedu Ward -4 is classified as Residential Class I Type - I. This classification affects the guideline value and property usage in the area.

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. This office handles property registrations for Malaimedu Ward -4.

How is stamp duty calculated in Malaimedu Ward -4?

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