Guideline Value for MALAR AVENUE (WARD -1)

Malar Avenue (Ward -1) guideline value

The current guideline value of Malar Avenue (Ward -1) is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Vallancheri 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 earliest available figure is from 2012, where the guideline value was Rs 800 per sq.ft. In 2017, this value decreased to Rs 536 per sq.ft, marking a drop of 33%. However, in the subsequent revision of 2023, the guideline value increased significantly to Rs 800 per sq.ft, followed by a further increase to Rs 880 per sq.ft in 2024, representing a rise of 10% from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The 2023 to 2024 revision saw a 10% increase, while the period from 2017 to 2023 experienced a substantial rise of 49%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vallancheri

In Vallancheri, there are 134 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 for these streets is Rs 825 per sq.ft, placing Malar Avenue's 2024 figure above this 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 880 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 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total charges to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculations, you can use the stamp duty and registration fee calculator.

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 further assistance.

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

The guideline value is an essential factor in the registration process when buying or selling property in Vallancheri. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that all parties are aware of the financial obligations involved.

When a property is registered, the guideline value is used to calculate the applicable charges, which are based on either the guideline value or the sale price, whichever is higher. This ensures transparency and consistency in property transactions within the region.

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 880 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 880 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, indicating its use for residential purposes.

How does the guideline value compare to other streets in Vallancheri?

The guideline value of Malar Avenue (Ward -1) at Rs 880 per sq.ft is above the median value of Rs 825 per sq.ft for the 134 streets in Vallancheri under the Chengleput Joint II SRO.

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

The Chengleput Joint II Sub Registrar Office, which covers Malar Avenue (Ward -1), is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.