Guideline Value for MALAITHERU

Malaitheru guideline value

The current guideline value of Malaitheru, located in Ottiyampakkam village under the Selaiyur SRO, is Rs 1,950 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Malaitheru has changed

The guideline value for Malaitheru has seen several revisions over the years. In 2012, the value was set at Rs 1,800 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,206 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 1,800 per sq.ft. The most recent 2024 revision has further increased the guideline value to Rs 1,950 per sq.ft, marking an 8% rise from the previous year.

There are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Ottiyampakkam

In Ottiyampakkam, there are 88 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 4,300 per sq.ft, with the median being Rs 1,950 per sq.ft. The guideline value for Malaitheru is equal to this median.

• Mariamman Koil First Cross Street: Rs 1,950 per sq.ft (2024)
• Mariamman Koil Fourth Cross Street: Rs 1,950 per sq.ft (2024)
• Mariamman Koil Second Cross Street: Rs 1,950 per sq.ft (2024)
• Mariamman Koil Street: Rs 1,950 per sq.ft (2024)
• Mariamman Koil Third Cross Street: Rs 1,950 per sq.ft (2024)
• Mayana Salai: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Malaitheru

For a 1,000 sq.ft plot at the current guideline value of Rs 1,950 per sq.ft, the total guideline value amounts to Rs 19,50,000. The stamp duty at 7% would be Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, bringing the total to Rs 1,75,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Malaitheru?

The Sub Registrar Office that covers Malaitheru is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ottiyampakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that all transactions are fairly assessed according to the established guidelines.

Frequently asked questions

What is the current guideline value of Malaitheru?

The current guideline value of Malaitheru is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase from Rs 1,800 per sq.ft in 2023 to Rs 1,950 per sq.ft in 2024, an 8% rise. The value was Rs 1,206 per sq.ft in 2017 and Rs 1,800 per sq.ft in 2012.

What is the land classification for Malaitheru?

Malaitheru is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Malaitheru?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 19,50,000, the stamp duty would be Rs 1,36,500 at 7%.