Guideline Value for MALAR AVEUNUE (N)

Malar Aveunue (N) guideline value

The current guideline value of Malar Aveunue (N) in Panangottur village is Rs 660 per sq.ft, effective from 1 July 2024. This street 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 undergone several revisions over the years. The earliest recorded value was Rs 600 per sq.ft in 2012. In 2017, it decreased to Rs 402 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 600 per sq.ft in 2023, and further rose to Rs 660 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The revisions for the years 2002, 2003, and 2007 do not have any recorded figures for this street.

Guideline values in Panangottur

In Panangottur village, there are 419 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 for these streets is Rs 990 per sq.ft, indicating that Malar Aveunue (N) is below this median.

• Main Street (Ward -8): Rs 1,320 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 1,320 per sq.ft (2024)
• Manimegalai Street (Ward -4): Rs 1,320 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 would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and 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 detailed calculations.

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 Panangottur

The guideline value plays a crucial role during the registration of property transactions in Panangottur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is essential for calculating the applicable fees. Buyers should be aware that the registration process will consider the guideline value or the sale price, whichever is higher, to determine the final costs associated with the transaction.

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 has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

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

Malar Aveunue (N) is classified as Residential Class I Type - III.

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

The Sub Registrar Office for Malar Aveunue (N) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000, resulting in a stamp duty of Rs 46,200.