Guideline Value for MALAVIA STREET

Malavia Street guideline value

The current guideline value of Malavia Street in Thiruvanmiyur village is Rs 12,660 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Commercial Class I Type - I.

How the guideline value of Malavia Street has changed

The guideline value for Malavia Street has seen several revisions over the years. In 2012, the value was Rs 11,500 per sq.ft, which decreased to Rs 7,705 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 11,500 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 12,660 per sq.ft, an increase of 10% from the previous year’s figure of Rs 11,500 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for Malavia Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that have a 2024 guideline value, ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for these streets is Rs 9,900 per sq.ft, placing Malavia Street's current value above this median.

• Malavia Avenue 4th Cross Street: Rs 12,660 per sq.ft (2024)
• Malavia Avenue 3rd Cross Street: Rs 12,660 per sq.ft (2024)
• Malavia Avenue 2nd Cross Street: Rs 12,660 per sq.ft (2024)
• Malavia Avenue 1st Street: Rs 12,660 per sq.ft (2024)
• Malavia Avenue 1st Cross Street: Rs 12,660 per sq.ft (2024)
• Malavia Avenue: Rs 12,660 per sq.ft (2024)

Stamp duty and registration fee for property in Malavia Street

For a 1,000 sq.ft plot at the current guideline value of Rs 12,660 per sq.ft, the total guideline value amounts to Rs 1,26,60,000. The stamp duty at 7% would be Rs 8,86,200, and the registration fee at 2% would be Rs 2,53,200, leading to a total of Rs 11,39,400. It is essential to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Malavia Street?

Malavia Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thiruvanmiyur. It serves as a benchmark for determining the minimum value of the property, ensuring that the transaction is recorded at a fair price.

When registering a property, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Malavia Street?

The current guideline value of Malavia Street is Rs 12,660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 11,500 per sq.ft in 2012 to Rs 7,705 per sq.ft in 2017, then increased to Rs 11,500 per sq.ft in 2023, and finally to Rs 12,660 per sq.ft in 2024.

What is the land classification of Malavia Street?

Malavia Street is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the registration office for Malavia Street?

The registration office covering Malavia Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in Malavia Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,26,60,000, the stamp duty at 7% would amount to Rs 8,86,200.