Guideline Value for MALLESWARI GARDEN

Malleswari Garden guideline value

The current guideline value of Malleswari Garden, located in Uthandi village under the Neelankarai SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Malleswari Garden has changed

The guideline value for Malleswari Garden has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was followed by a decrease to Rs 670 per sq.ft in the 2017 revision. In 2023, the value increased to Rs 1,000 per sq.ft again, and the most recent revision in 2024 raised it to Rs 1,100 per sq.ft.

In terms of percentage changes, the guideline value rose by 49% from 2017 to 2023, and then by 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 do not have figures recorded for this street.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 14,700 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, placing Malleswari Garden's 2024 figure below that median.

• Manavalan Garden: Rs 1,100 per sq.ft (2024)
• Mandaveli Thidal: Rs 2,200 per sq.ft (2024)
• Manickam Garden: Rs 1,100 per sq.ft (2024)
• Manimekalai Garden: Rs 1,100 per sq.ft (2024)
• Manthoppu Garden: Rs 2,200 per sq.ft (2024)
• Manthoppu Salai: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Malleswari Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Malleswari Garden?

The Sub Registrar Office that covers Malleswari Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Uthandi. It is used to determine the stamp duty and registration fees that are applicable during the buying or selling process.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the actual sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Malleswari Garden?

The current guideline value of Malleswari Garden is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 1,000 per sq.ft in 2023 to Rs 1,100 per sq.ft in 2024. Overall, from 2012 to 2024, it has increased by 10%.

What are the other streets in Uthandi with their guideline values?

Other streets in Uthandi include Manavalan Garden, Manickam Garden, and Manimekalai Garden, all at Rs 1,100 per sq.ft, while Mandaveli Thidal is at Rs 2,200 per sq.ft, and Manthoppu Garden is also at Rs 2,200 per sq.ft.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

How is stamp duty calculated for properties in Malleswari Garden?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000, leading to a stamp duty of Rs 77,000.