Guideline Value for MALIGAI STREET (OR) MALIGAI CHETTI STREET

Maligai Street (Or) Maligai Chetti Street guideline value

The current guideline value of Maligai Street (Or) Maligai Chetti Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Kanchipuram Town village, under the Kanchipuram Joint I SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of Maligai Street (Or) Maligai Chetti Street has changed

The guideline value for Maligai Street (Or) Maligai Chetti Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 670 per sq.ft. In 2023, the value was revised again to Rs 1,000 per sq.ft, followed by the latest revision in 2024, which increased the value to Rs 1,100 per sq.ft.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, and by 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 have no figures recorded for this street.

Guideline values in Kanchipuram Town

In Kanchipuram Town, there are 85 streets under the Kanchipuram Joint I SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, making the current value of Maligai Street (Or) Maligai Chetti Street below this median.

• Lingappa Iyer Street (Or) Lingappan Street: Rs 1,980 per sq.ft (2024)
• Kuppu Street: Rs 2,200 per sq.ft (2024)
• Kullappan Street: Rs 1,100 per sq.ft (2024)
• Municipal Line: Rs 1,100 per sq.ft (2024)
• Kollachathiram Street: Rs 1,650 per sq.ft (2024)
• Nagareeswarar Kovil Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Maligai Street (Or) Maligai Chetti Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Maligai Street (Or) Maligai Chetti Street?

The Sub Registrar Office covering Maligai Street (Or) Maligai Chetti Street is the Kanchipuram Joint I Sub Registrar Office, located at No.52 Orikkai Madura, Udhayamangalam Village, Near Anna Kudiyiruppu, Kanchipuram -631502, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kanchipuram Town. It serves as a benchmark for determining the minimum value at which a property can be registered. When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, while also providing a transparent framework for buyers and sellers.

Frequently asked questions

What is the current guideline value of Maligai Street (Or) Maligai Chetti Street?

The current guideline value of Maligai Street (Or) Maligai Chetti Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What are the other streets in Kanchipuram Town and their guideline values?

Other streets in Kanchipuram Town include Lingappa Iyer Street at Rs 1,980 per sq.ft, Kuppu Street at Rs 2,200 per sq.ft, and Kollachathiram Street at Rs 1,650 per sq.ft, among others.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, a 1,000 sq.ft plot at Rs 1,100 per sq.ft would incur a total of Rs 99,000 in fees.

Where can I find the Sub Registrar Office for Maligai Street (Or) Maligai Chetti Street?

The Kanchipuram Joint I Sub Registrar Office covers Maligai Street (Or) Maligai Chetti Street, located at No.52 Orikkai Madura, Udhayamangalam Village, Kanchipuram.