Guideline Value for MALAIPALAYAM

Malaipalayam guideline value

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

How the guideline value of Malaipalayam has changed

Over the years, the guideline value of Malaipalayam has seen several revisions. The earliest recorded figure is from 2007, when the value was Rs 40 per sq.ft. This increased significantly to Rs 400 per sq.ft in 2012, marking a 900% rise. However, in 2017, the value dropped to Rs 268 per sq.ft, a decrease of 33%. The value then rose again to Rs 400 per sq.ft in 2023, and has now reached Rs 401 per sq.ft in the 2024 revision, showing no change from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. From 2017 to 2023, there was a notable increase of 49%, and 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 guideline value for 2024, ranging from Rs 401 to Rs 1,000 per sq.ft. The median value is Rs 401 per sq.ft, which is equal to the guideline value of Malaipalayam.

• Malaipalayam Periya Colony: 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

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 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?

The Sub Registrar Office that covers Malaipalayam is 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 in the registration process of property transactions in Karunguzhi. It is used to determine the stamp duty and registration fees that must be paid when registering a property. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When purchasing or selling property, it is essential to check the current guideline value to ensure compliance with legal requirements. This helps in accurately estimating the total cost involved in the transaction.

Frequently asked questions

What is the current guideline value of Malaipalayam?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 40 per sq.ft in 2007 to Rs 401 per sq.ft in 2024, reflecting an overall increase of 903% over this period.

What is the stamp duty rate for property in Malaipalayam?

The stamp duty rate for property transactions in Malaipalayam is 7% of the guideline value or the sale price, whichever is higher.

Where is the Madurandakam Sub Registrar Office located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. These fees are based on the higher of the guideline value or the sale price.