Guideline Value for MALLIGAI ST

Malligai St guideline value

The current guideline value of Malligai St in Vilingiyambakkam village is Rs 935 per sq.ft, effective from 1 July 2024. This street falls under the Avadi SRO and is classified as Residential Class II Type - II.

How the guideline value of Malligai St has changed

The guideline value for Malligai St has undergone several revisions over the years. The 2012 revision set the value at Rs 850 per sq.ft, which was then revised to Rs 569 per sq.ft in 2017, marking a decrease of 33%. In 2023, the value increased to Rs 850 per sq.ft, followed by a further increase to Rs 935 per sq.ft in 2024, reflecting a 10% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, comparing the values from 2012 to 2024, there has been a 10% increase, with the value rising from Rs 850 per sq.ft in 2012 to Rs 935 per sq.ft in 2024.

Guideline values in Vilingiyambakkam

In Vilingiyambakkam, there are 252 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 4,400 per sq.ft. The median value is Rs 935 per sq.ft, which is the same as the current guideline value for Malligai St.

• Mahizakpoo St: Rs 935 per sq.ft (2024)
• Marudam Nagar: Rs 935 per sq.ft (2024)
• Logambal St: Rs 810 per sq.ft (2024)
• Lal Bahadur Sasthiri St: Rs 810 per sq.ft (2024)
• Mettu Street: Rs 800 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,625 per sq.ft (2024)

Stamp duty and registration fee for property in Malligai St

For a 1,000 sq.ft plot at the current guideline value of Rs 935 per sq.ft, the total guideline value amounts to Rs 9,35,000. The stamp duty at 7% would be Rs 65,450, and the registration fee at 2% would be Rs 18,700, bringing the total fees together to Rs 84,150. 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 accurate calculations.

Which Sub Registrar Office covers Malligai St?

The Sub Registrar Office that covers Malligai St is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration process of property transactions in Vilingiyambakkam. It is used to determine the stamp duty and registration fees, which are essential costs that buyers must consider when purchasing property.

When selling property, the guideline value ensures that the transaction is recorded at a value that reflects the official rates set by the government, helping to maintain transparency in property dealings. This means that both buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Malligai St?

The current guideline value of Malligai St is Rs 935 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 850 per sq.ft in 2012 to Rs 569 per sq.ft in 2017, then back to Rs 850 per sq.ft in 2023, and finally to Rs 935 per sq.ft in 2024.

What is the land classification for Malligai St?

Malligai St is classified as Residential Class II Type - II, indicating its designation for residential purposes.

What are the stamp duty and registration fees for a property on Malligai St?

For a property valued at Rs 9,35,000, the stamp duty would be Rs 65,450, and the registration fee would be Rs 18,700, totaling Rs 84,150.

Which office handles registrations for Malligai St?

The Avadi Sub Registrar Office is responsible for handling registrations for Malligai St, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.