Guideline Value for MALAR AVENUE (WARD -1)

Malar Avenue (Ward -1) guideline value

The current guideline value of Malar Avenue (Ward -1) is Rs 881 per sq.ft, effective from 1 July 2024. This street is located in Thailavaram village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - II.

How the guideline value of Malar Avenue (Ward -1) has changed

The guideline value for Malar Avenue has undergone several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which then decreased to Rs 536 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 800 per sq.ft. The most recent 2024 revision has further increased the value to Rs 881 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Malar Avenue. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Thailavaram

In Thailavaram, there are 132 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value among these streets is Rs 770 per sq.ft, placing Malar Avenue's 2024 figure above the median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 881 per sq.ft, the total guideline value would be Rs 8,81,000. The stamp duty at 7% would amount to Rs 61,670, and the registration fee at 2% would be Rs 17,620, bringing the total cost for these fees to Rs 79,290. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Malar Avenue (Ward -1)?

The Sub Registrar Office that covers Malar Avenue (Ward -1) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the 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 plays a crucial role in the registration process when buying or selling property in Thailavaram. It serves as a reference point for determining the value of the property for registration purposes, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction, based on the current guideline value.

Frequently asked questions

What is the current guideline value of Malar Avenue (Ward -1)?

The current guideline value of Malar Avenue (Ward -1) is Rs 881 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then back to Rs 800 per sq.ft in 2023, and finally to Rs 881 per sq.ft in 2024.

What is the land classification of Malar Avenue (Ward -1)?

Malar Avenue (Ward -1) is classified as Residential Class I Type - II, which indicates its suitability for residential development.

What is the median guideline value in Thailavaram?

The median guideline value in Thailavaram is Rs 770 per sq.ft, with Malar Avenue's current value being above this median.

Where can I find the Sub Registrar Office for Malar Avenue (Ward -1)?

The Sub Registrar Office for Malar Avenue (Ward -1) is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information by visiting the appropriate links.