Guideline Value for MALLES AHAANA

Malles Ahaana guideline value

The current guideline value of Malles Ahaana is Rs 5,090 per sq.ft, effective from 1 July 2024. This property is located in Medavakkam village, under the Chennai South Joint I SRO, and is classified as Residential Special Type - III.

How the guideline value of Malles Ahaana has changed

The guideline value for Malles Ahaana has seen significant changes over the years. The 2017 revision recorded a value of Rs 3,100 per sq.ft, which increased to Rs 4,627 per sq.ft in the 2023 revision, marking a 49% increase. The current 2024 revision reflects a further rise to Rs 5,090 per sq.ft, representing a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO, with a guideline value range from Rs 1,540 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Malles Ahaana's 2024 figure above this median.

• Malligai Street (Senthamizh Nagar): Rs 2,750 per sq.ft (2024)
• Mambakkam Main Road: Rs 4,400 per sq.ft (2024)
• Mandaveli 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Mandaveli 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Mandaveli Street: Rs 2,200 per sq.ft (2024)
• Magastic Phase I: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Malles Ahaana

For a 1,000 sq.ft plot at the current guideline value of Rs 5,090 per sq.ft, the total guideline value would be Rs 50,90,000. The stamp duty at 7% would amount to Rs 3,56,300, and the registration fee at 2% would be Rs 1,01,800, bringing the total fees together to Rs 4,58,100. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Malles Ahaana?

The Sub Registrar Office that covers Malles Ahaana 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 Medavakkam

The guideline value is a crucial factor when registering property transactions in Medavakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the process of buying or selling property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Malles Ahaana?

The current guideline value of Malles Ahaana is Rs 5,090 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Malles Ahaana has increased from Rs 3,100 per sq.ft in 2017 to Rs 4,627 per sq.ft in 2023, and now to Rs 5,090 per sq.ft in 2024.

What is the land classification for Malles Ahaana?

Malles Ahaana is classified as Residential Special Type - III.

What are the stamp duty and registration fees for Malles Ahaana?

For a 1,000 sq.ft plot, the total guideline value is Rs 50,90,000, with stamp duty at Rs 3,56,300 and registration fee at Rs 1,01,800, totaling Rs 4,58,100.

Which office handles registrations for Malles Ahaana?

The Chennai South Joint I Sub Registrar Office is responsible for handling registrations for Malles Ahaana, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.