Guideline Value for MALAR NAGAR

Malar Nagar guideline value

The current guideline value of Malar Nagar, located in Naduveerapattu village under the Padappai SRO, is Rs 2,010 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - I.

How the guideline value of Malar Nagar has changed

The guideline value for Malar Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,010 per sq.ft, an increase of 7% from the 2023 revision, which was Rs 1,881 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

In summary, the guideline values have seen a rise from Rs 1,881 per sq.ft in 2023 to Rs 2,010 per sq.ft in 2024. The previous revisions do not have figures available in the register for Malar Nagar, making it essential to focus on the most recent changes.

Guideline values in Naduveerapattu

Naduveerapattu village has a total of 96 streets under the Padappai SRO, with guideline values ranging from Rs 330 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 660 per sq.ft, placing Malar Nagar's 2024 figure above this median.

• Madha Nagar: Rs 440 per sq.ft (2024)
• Metbeev Nagar: Rs 550 per sq.ft (2024)
• Mettis: Rs 550 per sq.ft (2024)
• Lakshmi Nagar Extn: Rs 550 per sq.ft (2024)
• Lakshmi Nagar: Rs 550 per sq.ft (2024)
• M.M Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Malar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,010 per sq.ft, the total guideline value would be Rs 20,10,000. The stamp duty at 7% would amount to Rs 1,40,700, and the registration fee at 2% would be Rs 40,200, bringing the total fees together to Rs 1,80,900. 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 calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Malar Nagar?

The Sub Registrar Office that covers Malar Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for additional assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Naduveerapattu. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when transferring property ownership.

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

Frequently asked questions

What is the current guideline value of Malar Nagar?

The current guideline value of Malar Nagar is Rs 2,010 per sq.ft, effective from 1 July 2024.

How has the guideline value changed recently?

From the 2023 revision of Rs 1,881 per sq.ft, the guideline value increased by 7% to Rs 2,010 per sq.ft in 2024.

What is the land classification of Malar Nagar?

The land classification for Malar Nagar is Mixed Special Type - I.

What are the registration fees for property in Malar Nagar?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Which Sub Registrar Office handles transactions in Malar Nagar?

The Padappai Sub Registrar Office handles transactions for Malar Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.