Guideline Value for MALLALI PETTAI

Mallali Pettai guideline value

The current guideline value of Mallali Pettai, located in Karunguzhi village under the Madurandakam SRO, is Rs 600 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Mallali Pettai has changed

The guideline value for Mallali Pettai has seen significant changes over the years. In 2007, the value was Rs 200 per sq.ft, which increased to Rs 300 per sq.ft in 2012. However, from 2012 to 2017, it decreased to Rs 201 per sq.ft. The value then rose dramatically to Rs 600 per sq.ft in both 2023 and 2024, marking an increase of 199% from 2017 to 2023, and a stable rate from 2023 to 2024.

Notably, the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 200%.

Guideline values in Karunguzhi

In Karunguzhi village, there are 37 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 401 to Rs 1,000 per sq.ft, with a median value of Rs 401 per sq.ft. The guideline value of Mallali Pettai at Rs 600 per sq.ft is above this median.

• Malaipalayam Periya Colony: Rs 401 per sq.ft (2024)
• Malaipalayam: Rs 401 per sq.ft (2024)
• Madura Nagar Phase-II: Rs 501 per sq.ft (2024)
• Madura Nagar Phase-I: Rs 501 per sq.ft (2024)
• Maasumsha High Way Mega City: Rs 602 per sq.ft (2024)
• KEEZHANDAI COLONY (a) VALLUVAR STREET: Rs 401 per sq.ft (2024)

Stamp duty and registration fee for property in Mallali Pettai

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, making the total fees together Rs 54,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mallali Pettai?

Mallali Pettai falls under the jurisdiction of the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Karunguzhi. It determines the minimum value at which the property must be registered, ensuring that the transaction is documented at a fair value according to government standards.

When registering a property, buyers and sellers must consider the guideline value to calculate the applicable stamp duty and registration fees. This ensures compliance with local regulations and helps in the accurate assessment of property transactions.

Frequently asked questions

What is the current guideline value of Mallali Pettai?

The current guideline value of Mallali Pettai is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 200 per sq.ft in 2007 to Rs 600 per sq.ft in both 2023 and 2024, with a notable increase of 199% from 2017 to 2023.

What is the land classification for Mallali Pettai?

Mallali Pettai is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where is the Madurandakam Sub Registrar Office located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How do I calculate stamp duty and registration fees?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 600 per sq.ft would have a total guideline value of Rs 6,00,000, leading to specific fees based on that value.