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 Thailavaram village and falls under the Chengleput Joint II SRO, classified as Residential Class I Type - III.

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

The guideline value for Malaipuram Extention has seen several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which then dropped to Rs 469 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 700 per sq.ft, and the current 2024 revision has raised it to Rs 770 per sq.ft, 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 significantly 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 Thailavaram

In Thailavaram, there are 132 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value is Rs 770 per sq.ft, which is the same as the guideline value for Malaipuram Extention (Ward -1).

• Malai Mettu Street (Ward -1): Rs 770 per sq.ft (2024)
• Malar Avenue (Ward -1): Rs 881 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 881 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, bringing the total to Rs 69,300. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

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

The Malaipuram Extention (Ward -1) is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002., Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Thailavaram. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. The higher of the guideline value or the sale price is considered for calculating these fees.

When a property is registered, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for both the buyer and seller. This process helps maintain transparency and accountability in real estate dealings.

Frequently asked questions

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

The current guideline value of 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 finally to Rs 770 per sq.ft in 2024.

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

Malaipuram Extention (Ward -1) is classified as 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., Chengalpattu registration zone.

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

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