Guideline Value for MALLESWARAN NAGAR (CHEN)

Malleswaran Nagar (Chen) guideline value

The current guideline value for Malleswaran Nagar (Chen) is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Sengundram - 1 village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - I.

How the guideline value of Malleswaran Nagar (Chen) has changed

The guideline value for Malleswaran Nagar (Chen) has undergone several revisions over the years. In 2012, the value was set at Rs 800 per sq.ft. This figure decreased to Rs 536 per sq.ft in 2017. However, from 2017 to 2023, the guideline value saw a significant increase of 49%, rising to Rs 800 per sq.ft. The most recent revision in 2024 has brought the value to Rs 880 per sq.ft, marking a 10% increase from the previous year.

The register does not have figures for the years 2002, 2003, and 2007 for this street. Overall, comparing the guideline values from 2012 to 2024, there has been a 10% increase.

Guideline values in Sengundram - 1

In Sengundram - 1 village, there are 126 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 3,285 per sq.ft. The median value is Rs 880 per sq.ft, which is equal to the guideline value for Malleswaran Nagar (Chen).

• Malrosapuram (Chen): Rs 880 per sq.ft (2024)
• Malaimedu (Chen): Rs 660 per sq.ft (2024)
• Maga Ganapathi Nagar (Chen): Rs 880 per sq.ft (2024)
• Mariyamman Koil Street (Chen): Rs 660 per sq.ft (2024)
• Maruthi Nagar (Chen): Rs 880 per sq.ft (2024)
• Lakshmi Narasimman Nagar (Chen): Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Malleswaran Nagar (Chen)

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty, charged at 7%, would be Rs 61,600, and the registration fee at 2% would be Rs 17,600. Together, the total cost for these fees would be Rs 79,200. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Malleswaran Nagar (Chen)?

The Sub Registrar Office that covers Malleswaran Nagar (Chen) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sengundram - 1

The guideline value plays a crucial role during the registration of property transactions in Sengundram - 1. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is assessed to ensure that the appropriate fees are calculated based on either the guideline value or the sale price, whichever is higher. This ensures compliance with local regulations and helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value for Malleswaran Nagar (Chen)?

The current guideline value for Malleswaran Nagar (Chen) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification for Malleswaran Nagar (Chen)?

Malleswaran Nagar (Chen) is classified as Residential Class I Type - I, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Malleswaran Nagar (Chen)?

The Chengleput Joint II Sub Registrar Office covers Malleswaran Nagar (Chen) and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Malleswaran Nagar (Chen)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 at a rate of 7%.