Guideline Value for MALLIGA NAGAR 4TH STREET

Malliga Nagar 4th Street guideline value

The current guideline value of Malliga Nagar 4th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Issa Pallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Malliga Nagar 4th Street has changed

The guideline value for Malliga Nagar 4th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft. This was followed by a decrease to Rs 2,345 per sq.ft in the 2017 revision. However, the 2023 revision saw a significant increase to Rs 3,500 per sq.ft, and the latest 2024 revision raised it further to Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Malliga Nagar 4th Street's 2024 figure above this median.

• Malliga Nagar 2nd & 3rd Street: Rs 3,850 per sq.ft (2024)
• Malliga Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Mariamman Koil 2nd Cross St.: Rs 2,200 per sq.ft (2024)
• Marriyamman Cross Street: Rs 3,300 per sq.ft (2024)
• Marriyamman Koil Street: Rs 3,850 per sq.ft (2024)
• Kumaraswamy Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Malliga Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty, charged at 7%, would be Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Together, the total cost for stamp duty and registration fee would be Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Malliga Nagar 4th Street?

Malliga Nagar 4th Street falls under the jurisdiction of the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Issa Pallavaram. It serves as a standard reference for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the baseline value of the property. It is essential for buyers to be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Malliga Nagar 4th Street?

The current guideline value of Malliga Nagar 4th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, representing a 10% increase. It was Rs 2,345 per sq.ft in 2017, showing a 49% increase from that year to 2023.

What is the land classification for Malliga Nagar 4th Street?

Malliga Nagar 4th Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Malliga Nagar 4th Street?

The Sub Registrar Office covering Malliga Nagar 4th Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 at a rate of 7%.