Guideline Value for MALAR NAGAR MGR.STREET

Malar Nagar Mgr.Street guideline value

The current guideline value of Malar Nagar Mgr.Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Korattur village and falls under the Villivakkam SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Malar Nagar Mgr.Street has changed

The guideline value for Malar Nagar Mgr.Street has seen several revisions over the years. In 2012, the value was Rs 2,300 per sq.ft, which then decreased to Rs 1,541 per sq.ft in 2017. Following this, the value increased to Rs 2,300 per sq.ft in 2023, and finally, it rose to Rs 2,500 per sq.ft in 2024. Notably, the register has no figures for the years 2002, 2003, and 2007.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The overall change from the 2012 revision to the 2024 revision reflects a 9% increase.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value is Rs 2,500 per sq.ft, which matches the current value of Malar Nagar Mgr.Street.

• Malligai Avenue: Rs 1,600 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,600 per sq.ft (2024)
• Maduravoyal Service Road: Rs 2,900 per sq.ft (2024)
• Mariyamma Nagar: Rs 2,500 per sq.ft (2024)
• Mariyamman Koil Street: Rs 1,600 per sq.ft (2024)
• Madhava Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Malar Nagar Mgr.Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees to Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Malar Nagar Mgr.Street?

The Sub Registrar Office that covers Malar Nagar Mgr.Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Korattur. It serves as a benchmark for determining the minimum price at which a property can be sold or bought, ensuring transparency and fairness in property dealings.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This means that understanding the current guideline value is essential for both buyers and sellers in the area.

Frequently asked questions

What is the current guideline value of Malar Nagar Mgr.Street?

The current guideline value of Malar Nagar Mgr.Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024. The overall change from 2012 to 2024 reflects a 9% increase.

What is the land classification for Malar Nagar Mgr.Street?

The land classification for Malar Nagar Mgr.Street is Residential Class II Type - III.

Where can I find the registration office for Malar Nagar Mgr.Street?

The registration office for Malar Nagar Mgr.Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 and the registration fee would be Rs 50,000.