Guideline Value for MALLEGESWARAR NAGAR EXTN.

Mallegeswarar Nagar Extn. guideline value

The current guideline value of Mallegeswarar Nagar Extn. is Rs 1,650 per sq.ft, effective from 1 July 2024. This area 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 Mallegeswarar Nagar Extn. has changed

The guideline value of Mallegeswarar Nagar Extn. has seen several revisions over the years. In 2002, the guideline value was Rs 92 per sq.ft. This figure increased to Rs 109 per sq.ft in 2003, marking an 18% rise. The value then saw a significant jump to Rs 400 per sq.ft in 2007, which was a 267% increase from the previous figure. Following this, in 2012, the guideline value rose dramatically to Rs 1,500 per sq.ft, reflecting a 275% increase from 2007.

The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft, which is a 10% increase from the 2012 value. Overall, from 2002 to 2024, the guideline value has increased by 1,693%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, which is the same as the current value for Mallegeswarar Nagar Extn.

• Mallegeswarar Nagar: Rs 1,650 per sq.ft (2024)
• Mallegaswaran Street: 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 Mallegeswarar Nagar Extn.

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 fees to Rs 1,48,500. Please note that 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 Mallegeswarar Nagar Extn.?

The Sub Registrar Office that covers Mallegeswarar Nagar Extn. 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 more information.

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

The guideline value is an important factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Pallikaranai, the guideline value helps in calculating the stamp duty and registration fees that need to be paid during the registration process.

It is essential for buyers and sellers to be aware of the guideline value as it ensures compliance with legal requirements. The registration office will use the guideline value to assess the transaction and apply the appropriate fees based on this value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Mallegeswarar Nagar Extn.?

The current guideline value of Mallegeswarar Nagar Extn. is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 92 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, which is an overall increase of 1,693%.

What are the stamp duty and registration fees for properties in Mallegeswarar Nagar Extn.?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles property registrations in Mallegeswarar Nagar Extn.?

The Chennai South Joint I Sub Registrar Office is responsible for property registrations in Mallegeswarar Nagar Extn.

Where can I find more information about the guideline values in Pallikaranai?

More information about the guideline values in Pallikaranai can be found in the registration department's guideline value register, accessible through official channels.