Guideline Value for MALLIGAIPOO COLONY 1ST STREET

Malligaipoo Colony 1st Street guideline value

The current guideline value of Malligaipoo Colony 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Perambur village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Malligaipoo Colony 1st Street has changed

The guideline value for Malligaipoo Colony 1st Street has undergone several revisions over the years. The earliest recorded figure is from 2007, when the guideline value was Rs 600 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a change of 317%. The value remained unchanged at Rs 2,500 per sq.ft through the 2023 revision. The most recent revision in 2024 saw the guideline value rise to Rs 2,700 per sq.ft, reflecting an increase of 8% from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2017 for this street. Overall, from 2007 to 2024, the guideline value has increased by 350%.

Guideline values in Perambur

In Perambur, there are a total of 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the guideline value of Malligaipoo Colony 1st Street.

• Malligai Poo Colony: 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 Malligaipoo Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty is charged at 7%, which totals Rs 1,89,000, and the registration fee is charged at 2%, amounting to Rs 54,000. Together, the total cost for these fees would be Rs 2,43,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Malligaipoo Colony 1st Street?

The Sub Registrar Office that covers Malligaipoo Colony 1st Street 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 in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When a property is sold, the guideline value is used to ensure that the transaction is recorded at a fair value, and it helps in preventing undervaluation of properties. Buyers and sellers must be aware of the current guideline value to accurately calculate their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Malligaipoo Colony 1st Street?

The current guideline value of Malligaipoo Colony 1st Street 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, representing an overall increase of 350% over the years.

What is the land classification for Malligaipoo Colony 1st Street?

The land classification for Malligaipoo Colony 1st Street is Residential Class III Type - II.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Malligaipoo Colony 1st Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in this area?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at a rate of 7%.