Guideline Value for MALAR NAGAR

Malar Nagar guideline value

The current guideline value of Malar Nagar, located in Thozhuvur village under the Tiruvallur Joint 1 SRO, is Rs 350 per sq.ft as per the 2023 revision. The land classification for this area is Residential Class III Type - I.

How the guideline value of Malar Nagar has changed

In the 2012 revision, the guideline value was Rs 350 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 234 per sq.ft, marking a reduction of 33%. However, in the 2023 revision, the guideline value increased significantly to Rs 350 per sq.ft, reflecting a 50% increase from the 2017 figure.

Overall, from the 2012 revision to the 2023 revision, the guideline value has remained the same at Rs 350 per sq.ft. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2024 for this street.

Guideline values in Thozhuvur

Currently, there are no specific village figures provided for Thozhuvur. Malar Nagar is one of the streets under the Tiruvallur Joint 1 SRO.

Stamp duty and registration fee for property in Malar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value would be Rs 3,50,000. The stamp duty at 7% would amount to Rs 24,500, and the registration fee at 2% would be Rs 7,000. Thus, the total cost for stamp duty and registration fees would be Rs 31,500. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, 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 Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001, Chennai registration zone.

To find your specific SRO, you can visit find your SRO.

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

The guideline value is a critical factor when registering property in Thozhuvur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to assess the applicable duties. It is essential to recognize that the higher of the guideline value or the sale price will be considered for calculating stamp duty, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Malar Nagar?

The current guideline value of Malar Nagar is Rs 350 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value changed from Rs 350 per sq.ft in 2012 to Rs 234 per sq.ft in 2017, a decrease of 33%. It then increased back to Rs 350 per sq.ft in 2023, marking a 50% increase from the 2017 figure.

What are the stamp duty rates for properties in Malar Nagar?

The stamp duty for properties in Malar Nagar is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

What is the registration fee for properties in Malar Nagar?

The registration fee for properties in Malar Nagar is charged at a rate of 2% on the guideline value or the sale price, whichever is higher.

Which office do I need to visit for property registration in Malar Nagar?

The Tiruvallur Joint 1 Sub Registrar Office is responsible for property registration in Malar Nagar, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001, Chennai registration zone.