Guideline Value for MALAIPURAM EXTENTION (WARD -1)

Malaipuram Extention (Ward -1) guideline value

The current guideline value of Malaipuram Extention (Ward -1) is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Konathi village and falls under the Chengleput Joint II SRO. The land classification for this region is Residential Class I Type - III.

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

The guideline value for Malaipuram Extention has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 700 per sq.ft, which later saw a decrease to Rs 469 per sq.ft in the 2017 revision. However, this was followed by a significant increase to Rs 700 per sq.ft in the 2023 revision, and currently, it stands at Rs 770 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Konathi

In Konathi, there are a total of 131 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,500 per sq.ft. The median guideline value is Rs 770 per sq.ft, which is equal to the current guideline value for Malaipuram Extention (Ward -1).

• Malai Mettu Street (Ward -1): Rs 770 per sq.ft (2024)
• Malar Avenue (Ward -1): Rs 880 per sq.ft (2024)
• Malaiadivaaram (Ward -1): Rs 770 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 Malaipuram Extention (Ward -1)

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total 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, making the total fees together Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Malaipuram Extention (Ward -1)?

The Malaipuram Extention (Ward -1) area is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. To find your specific SRO, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Konathi. It helps determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware that the guideline value is used as a basis for calculating these fees.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair price, reflecting the current market conditions as per the official register. This process helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value for Malaipuram Extention (Ward -1)?

The current guideline value for Malaipuram Extention (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 is currently Rs 770 per sq.ft in 2024.

What is the land classification for Malaipuram Extention (Ward -1)?

The land classification for Malaipuram Extention (Ward -1) is Residential Class I Type - III.

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, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Malaipuram Extention (Ward -1)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 7,70,000, the stamp duty at 7% would be Rs 53,900.