Guideline Value for MALAR AVEUNUE (N)

Malar Aveunue (N) guideline value

The current guideline value of Malar Aveunue (N) in Ninna Karai village is Rs 660 per sq.ft, effective from 1 July 2024. This falls under the Chengleput Joint II SRO and is classified as Residential Class I Type - III.

How the guideline value of Malar Aveunue (N) has changed

The guideline value for Malar Aveunue (N) has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 600 per sq.ft in the 2023 revision, and finally, it rose to Rs 660 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The changes between the revisions indicate a 49% increase from 2017 to 2023, while the 2012 to 2017 revision saw a decrease of 33%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

In Ninna Karai, there are a total of 449 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Malar Aveunue (N) below this median.

• Main Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Mamarathu Gate Union Road (Per): Rs 990 per sq.ft (2024)
• Mangayarkarasi Street (Ward -6): Rs 1,760 per sq.ft (2024)
• Maha Ngar Phase -1,2,3 (Pa): Rs 660 per sq.ft (2024)
• Manickavasagar Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Manimegalai Street (Ward -4): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Malar Aveunue (N)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, while the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. It is important to note that the 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 Malar Aveunue (N)?

The Sub Registrar Office that covers Malar Aveunue (N) 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 Ninna Karai

The guideline value plays a crucial role in the registration process when buying or selling property in Ninna Karai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Malar Aveunue (N)?

The current guideline value of Malar Aveunue (N) is Rs 660 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2012 revision, the guideline value has increased by 10% overall, with significant changes including a 49% increase from 2017 to 2023.

What is the land classification of Malar Aveunue (N)?

Malar Aveunue (N) is classified as Residential Class I Type - III according to the guideline value register.

Where can I find the Sub Registrar Office for Malar Aveunue (N)?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles registrations for properties in Malar Aveunue (N).

How is stamp duty calculated for properties in Malar Aveunue (N)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 6,60,000 would incur a stamp duty of Rs 46,200 at a rate of 7%.