Guideline Value for MALLIGAI NAGAR

Malligai Nagar guideline value

The current guideline value of Malligai Nagar is Rs 103 per sq.ft, effective from 1 July 2024. This street is located in Nelli village under the Salavakkam SRO, classified as Residential Special Type - I.

How the guideline value of Malligai Nagar has changed

The guideline value for Malligai Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 100 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 67 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 100 per sq.ft. The most recent revision in 2024 has further increased the value to Rs 103 per sq.ft, marking a 3% rise from the previous year.

It is important to note that the register has no figures for Malligai Nagar in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has seen a marginal increase of 3%.

Guideline values in Nelli

In Nelli village, there are 25 streets under the Salavakkam SRO that carry a 2024 guideline value, ranging from Rs 101 to Rs 103 per sq.ft. The median value for these streets is Rs 103 per sq.ft, which matches the current guideline value of Malligai Nagar.

• Mahalakshmi Nagar: Rs 103 per sq.ft (2024)
• Muthamiz Nagar: Rs 102 per sq.ft (2024)
• Jupiter Mega City: Rs 103 per sq.ft (2024)
• Jayam Nagar K.B.K.city: Rs 103 per sq.ft (2024)
• Rajinikanth Nagar: Rs 103 per sq.ft (2024)
• Raman Nagar: Rs 103 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 103 per sq.ft, the total guideline value amounts to Rs 1,03,000. The stamp duty, charged at 7%, would be Rs 7,210, while the registration fee at 2% amounts to Rs 2,060. Therefore, the total fees together would be Rs 9,270. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Malligai Nagar?

The Sub Registrar Office that covers Malligai Nagar is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of properties in Nelli. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for the transaction. Buyers should be aware that the stamp duty is calculated based on this value or the sale price, whichever is higher, which can significantly affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Malligai Nagar?

The current guideline value of Malligai Nagar is Rs 103 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then back to Rs 100 per sq.ft in 2023, and finally to Rs 103 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Malligai Nagar?

The stamp duty is charged at 7% and the registration fee at 2%. For a 1,000 sq.ft plot at the current guideline value, the total fees would be Rs 9,270.

Which Sub Registrar Office is responsible for Malligai Nagar?

The Salavakkam Sub Registrar Office is responsible for Malligai Nagar, located at 2/1a, Thottakkara Street, Salavakkam, Chengalpattu.

What is the land classification of Malligai Nagar?

Malligai Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.