Guideline Value for MALAVIKA AVENUE EXTENTION

Malavika Avenue Extention guideline value

The current guideline value of Malavika Avenue Extention is Rs 2,400 per sq.ft, effective from 1 July 2024. This property is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Malavika Avenue Extention has changed

The guideline value for Malavika Avenue Extention has seen several revisions over the years. Starting from the 2012 revision, the guideline value was Rs 2,200 per sq.ft. This value decreased to Rs 1,474 per sq.ft in the 2017 revision, marking a decline of 33%. However, by the 2023 revision, the value increased to Rs 2,200 per sq.ft, and further rose to Rs 2,400 per sq.ft in the 2024 revision, representing a 9% increase from the previous year.

In summary, the changes in guideline value from 2017 to 2023 reflect a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

Selaiyur village has a total of 478 streets under the Selaiyur SRO, with guideline values for 2024 ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Malavika Avenue Extention above this median.

• Malavika Avenue: Rs 2,400 per sq.ft (2024)
• Mangaiyarkarasi Street: Rs 2,400 per sq.ft (2024)
• Manickam Avenue: Rs 4,400 per sq.ft (2024)
• Mahalakshmi Street: Rs 3,750 per sq.ft (2024)
• Manickam Street: Rs 850 per sq.ft (2024)
• Manickavasakar Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Malavika Avenue Extention

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total to Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Malavika Avenue Extention?

The Sub Registrar Office that covers Malavika Avenue Extention is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official value assigned to the property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is transparent and consistent across all transactions in the area.

Frequently asked questions

What is the current guideline value of Malavika Avenue Extention?

The current guideline value of Malavika Avenue Extention is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then back to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

What is the land classification for Malavika Avenue Extention?

Malavika Avenue Extention is classified as Residential Special Type - II.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 and the registration fee would be Rs 48,000, totaling Rs 2,16,000.

Where is the Sub Registrar Office for Malavika Avenue Extention located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.