Guideline Value for MALLEGASWARAN STREET

Mallegaswaran Street guideline value

The current guideline value of Mallegaswaran Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Mallegaswaran Street has changed

The guideline value for Mallegaswaran Street has undergone revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 1,500 per sq.ft. This was followed by the 2024 revision, which increased the guideline value to Rs 1,650 per sq.ft, marking a change of +10% from the 2012 figure. It is important to note that the register has no figure for this street for the years 2002, 2003, 2007, 2017, and 2023.

In summary, the only revisions that have specific figures for Mallegaswaran Street are from 2012 and 2024, with the latter reflecting the current guideline value. The absence of figures for the other years indicates that there were no changes recorded for this street during those periods.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the current guideline value of Mallegaswaran Street.

• Mallegeswarar Nagar: Rs 1,650 per sq.ft (2024)
• Mallegeswarar Nagar Extn.: Rs 1,650 per sq.ft (2024)
• Manickavasakar Street: Rs 1,650 per sq.ft (2024)
• Manikavasagar 1st Cross Street: Rs 1,650 per sq.ft (2024)
• Manimegalai 1st Street: Rs 1,650 per sq.ft (2024)
• Manimegalai 2nd Cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Mallegaswaran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mallegaswaran Street?

The Sub Registrar Office that covers Mallegaswaran 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. You can find your SRO for additional information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the established guideline values for different areas, including Mallegaswaran Street.

Frequently asked questions

What is the current guideline value of Mallegaswaran Street?

The current guideline value of Mallegaswaran Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Mallegaswaran Street was Rs 1,500 per sq.ft in 2012 and increased to Rs 1,650 per sq.ft in 2024, reflecting a change of +10%.

Are there any years without recorded guideline values for this street?

Yes, the register has no figure for Mallegaswaran Street for the years 2002, 2003, 2007, 2017, and 2023.

What is the registration office for Mallegaswaran Street?

The registration office for Mallegaswaran 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 Pallikaranai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 16,50,000, the stamp duty at 7% would amount to Rs 1,15,500.