Guideline Value for MALLIGAI POO COLONY

Malligai Poo Colony guideline value

The current guideline value of Malligai Poo Colony is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class III Type - II.

How the guideline value of Malligai Poo Colony has changed

The guideline value for Malligai Poo Colony has undergone several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which saw a significant increase to Rs 2,500 per sq.ft in 2012, marking a change of +317%. This figure remained unchanged until the 2023 revision, which also recorded Rs 2,500 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 2,700 per sq.ft, reflecting an increase of +8% from the previous year.

There are no figures available for the years 2002, 2003, and 2017 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by +350%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO, with the 2024 guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which is equal to the guideline value of Malligai Poo Colony.

• Malligaipoo Colony 1st Street: Rs 2,700 per sq.ft (2024)
• Malligaipoo Colony 2nd Street: Rs 2,700 per sq.ft (2024)
• Malligaipoo Colony 3rd Street: Rs 2,700 per sq.ft (2024)
• Malligaipoo Colony 4th Street: Rs 2,700 per sq.ft (2024)
• Malligaipoo Colony 5th Street: Rs 2,700 per sq.ft (2024)
• Malligaipoo Colony Main Road: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Malligai Poo Colony

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Malligai Poo Colony?

The Sub Registrar Office that covers Malligai Poo Colony is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Perambur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two is used to calculate the applicable stamp duty and registration fees, ensuring that all transactions are conducted in accordance with the legal framework.

Frequently asked questions

What is the current guideline value of Malligai Poo Colony?

The current guideline value of Malligai Poo Colony is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking an overall increase of +350% over the years.

What are the stamp duty rates for properties in Malligai Poo Colony?

The stamp duty for properties in Malligai Poo Colony is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Malligai Poo Colony?

The Sub Registrar Office for Malligai Poo Colony is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification of Malligai Poo Colony?

Malligai Poo Colony is classified as Residential Class III Type - II, which is relevant for understanding its zoning and permissible uses.