Guideline Value for MALLIGAI NAGAR

Malligai Nagar guideline value

The current guideline value of Malligai Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Vilvarayanalloor village, under the Madurandakam SRO, and is classified as Residential Special Type - I.

How the guideline value of Malligai Nagar has changed

Over the years, the guideline value of Malligai Nagar has seen several revisions. The earliest recorded figure is from 2007, where it was Rs 40 per sq.ft. This increased significantly to Rs 200 per sq.ft in 2012, marking a 400% increase. However, between 2012 and 2017, the value decreased to Rs 134 per sq.ft, a drop of 33%. The guideline value then rose to Rs 200 per sq.ft in both the 2023 and 2024 revisions, showing no change from 2023 to 2024.

There are no figures available for the years 2002 and 2003 for this street. From the 2007 revision to the 2024 revision, the overall increase is 400%, with the most significant change occurring between 2007 and 2012.

Guideline values in Vilvarayanalloor

In Vilvarayanalloor, there are 23 streets under the Madurandakam SRO that have a 2024 guideline value ranging from Rs 101 to Rs 300 per sq.ft. The median value for these streets is Rs 200 per sq.ft, which is the same as the guideline value for Malligai Nagar.

• Mullai Nagar: Rs 200 per sq.ft (2024)
• Mullai Nagar Extension -III: Rs 200 per sq.ft (2024)
• Mullai Nagar II: Rs 200 per sq.ft (2024)
• J J City: Rs 200 per sq.ft (2024)
• Jam Jam Nagar II: Rs 200 per sq.ft (2024)
• Jam Jam Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Malligai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty, charged at 7%, would amount to Rs 14,000, while the registration fee at 2% would be Rs 4,000. Together, the total cost for these fees would be Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Malligai Nagar?

The Sub Registrar Office that covers Malligai Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Vilvarayanalloor, as it determines the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations during the registration process.

When purchasing property, the guideline value serves as a benchmark for the transaction value. It is essential for both parties to understand that the stamp duty is based on the higher of the guideline value or the actual sale price, ensuring that all legal requirements are met during the transfer of ownership.

Frequently asked questions

What is the current guideline value of Malligai Nagar?

The current guideline value of Malligai Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 40 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, then decreased to Rs 134 per sq.ft in 2017, and has remained at Rs 200 per sq.ft in 2023 and 2024.

What is the registration office for Malligai Nagar?

The registration office for Malligai Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated for property in Malligai Nagar?

The stamp duty for property in Malligai Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 14,000 based on the current guideline value.

What are the other streets with the same guideline value in Vilvarayanalloor?

Other streets in Vilvarayanalloor with the same guideline value of Rs 200 per sq.ft include Mullai Nagar, Mullai Nagar Extension -III, Mullai Nagar II, J J City, Jam Jam Nagar II, and Jam Jam Nagar.