Guideline Value for MALIGAI STREET

Maligai Street guideline value

The current guideline value of Maligai Street in Kakkalur village is Rs 626 per sq.ft, effective from 1 July 2024. This street falls under the Tiruvallur Joint 1 SRO and is classified as Residential Class II Type - III.

How the guideline value of Maligai Street has changed

Over the years, the guideline value of Maligai Street has seen several revisions. Starting from Rs 100 per sq.ft in 2007, the value rose significantly to Rs 625 per sq.ft in 2012, marking an increase of 525%. However, between 2012 and 2017, the value decreased to Rs 419 per sq.ft, a drop of 33%. The value then increased by 49% to Rs 626 per sq.ft in 2023, and it remained unchanged in the 2024 revision.

It's important to note that the register has no figures for Maligai Street for the years 2002 and 2003. The current guideline value of Rs 626 per sq.ft is equal to the median value of Rs 626 per sq.ft for the 133 streets in Kakkalur under the Tiruvallur Joint 1 SRO.

Guideline values in Kakkalur

In Kakkalur, the guideline values for 2024 range from Rs 400 to Rs 3,000 per sq.ft, with the median being Rs 626 per sq.ft. Maligai Street's current guideline value aligns with this median.

• Magilam Poo Street: Rs 626 per sq.ft (2024)
• Manoranjitham Street: Rs 626 per sq.ft (2024)
• Mariannai Street: Rs 626 per sq.ft (2024)
• Maaveeran Durai Samy Nagar: Rs 626 per sq.ft (2024)
• M.D.M. Nagar: Rs 800 per sq.ft (2024)
• Kuvalai Malai Street: Rs 626 per sq.ft (2024)

Stamp duty and registration fee for property in Maligai Street

For a 1,000 sq.ft plot at the current rate of Rs 626 per sq.ft, the guideline value amounts to Rs 6,26,000. The stamp duty at 7% would be Rs 43,820, and the registration fee at 2% would be Rs 12,520, totaling Rs 56,340. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Maligai Street?

The Sub Registrar Office that covers Maligai Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Kakkalur. It is used to calculate the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the government receives appropriate revenue based on the property’s assessed value.

When selling property, the guideline value is also important as it establishes a baseline for the sale price. Buyers and sellers often refer to the guideline value to ensure that the transaction aligns with the official assessments, providing clarity and transparency in the process.

Frequently asked questions

What is the current guideline value of Maligai Street?

The current guideline value of Maligai Street is Rs 626 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 626 per sq.ft in 2024, marking an overall increase of 526% since 2007.

What are the other streets with the same guideline value in Kakkalur?

Other streets in Kakkalur with the same guideline value of Rs 626 per sq.ft include Magilam Poo Street, Manoranjitham Street, Mariannai Street, and Maaveeran Durai Samy Nagar.

What is the role of the guideline value in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It serves as a reference point for both buyers and sellers in determining property value.

Where can I find the Sub Registrar Office for Maligai Street?

The Sub Registrar Office for Maligai Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.