Guideline Value for MALAIPALAYAM PERIYA COLONY

Malaipalayam Periya Colony guideline value

The current guideline value of Malaipalayam Periya Colony is Rs 401 per sq.ft, effective from 1 July 2024. This area is located in Karunguzhi village under the Madurandakam SRO, classified as Mixed Type - I land.

How the guideline value of Malaipalayam Periya Colony has changed

The guideline value has undergone several revisions over the years. In 2007, the value was Rs 40 per sq.ft, which significantly increased to Rs 400 per sq.ft in 2012, marking a rise of 900%. However, in 2017, the value decreased to Rs 268 per sq.ft, a decline of 33%. The value then rose to Rs 400 per sq.ft in 2023, and finally, it reached Rs 401 per sq.ft in 2024, reflecting no change from the previous year.

It is important to note that there are no figures recorded for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 903%.

Guideline values in Karunguzhi

In Karunguzhi village, there are 37 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 401 to Rs 1,000 per sq.ft. The median value is Rs 401 per sq.ft, which is the same as the guideline value for Malaipalayam Periya Colony.

• Malaipalayam: Rs 401 per sq.ft (2024)
• Mallali Pettai: Rs 600 per sq.ft (2024)
• Madura Nagar Phase-II: Rs 501 per sq.ft (2024)
• Madura Nagar Phase-I: Rs 501 per sq.ft (2024)
• Maasumsha High Way Mega City: Rs 602 per sq.ft (2024)
• KEEZHANDAI COLONY (a) VALLUVAR STREET: Rs 401 per sq.ft (2024)

Stamp duty and registration fee for property in Malaipalayam Periya Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 401 per sq.ft, the total guideline value would be Rs 4,01,000. The stamp duty at 7% would amount to Rs 28,070, and the registration fee at 2% would be Rs 8,020, bringing the total cost for these fees to Rs 36,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Malaipalayam Periya Colony?

The Malaipalayam Periya Colony falls under the jurisdiction of the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Karunguzhi. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Malaipalayam Periya Colony?

The current guideline value of Malaipalayam Periya Colony is Rs 401 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 40 per sq.ft in 2007 to Rs 401 per sq.ft in 2024, which is an overall increase of 903% from 2007 to 2024.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 4,01,000, the stamp duty is Rs 28,070, and the registration fee is Rs 8,020, totaling Rs 36,090. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Malaipalayam Periya Colony?

The Madurandakam Sub Registrar Office is responsible for property registrations in Malaipalayam Periya Colony, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What is the land classification of Malaipalayam Periya Colony?

Malaipalayam Periya Colony is classified as Mixed Type - I land, which indicates the type of usage permissible in the area.