Guideline Value for MALLIKA NAGAR

Mallika Nagar guideline value

The current guideline value of Mallika Nagar, located in Sadayankuppam village under the Thiruvottiyur SRO, is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Mallika Nagar has changed

The guideline value for Mallika Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 50 per sq.ft, which increased significantly to Rs 450 per sq.ft in 2012. However, this figure saw a decrease of 33% to Rs 301 per sq.ft in 2017. The value then rose dramatically to Rs 1,000 per sq.ft in 2023, and it remained unchanged in the 2024 revision, reflecting a 232% increase from the 2017 figure.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 1900%, highlighting significant changes over the years.

Guideline values in Sadayankuppam

In Sadayankuppam, there are 20 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,200 per sq.ft. The median guideline value for these streets is Rs 1,002 per sq.ft, placing Mallika Nagar's 2024 figure below that median.

• Manali New Town (T N H B & C M D A): Rs 1,100 per sq.ft (2024)
• M.R.B. Nagar: Rs 1,002 per sq.ft (2024)
• K.G.L. Nagar: Rs 1,002 per sq.ft (2024)
• Nehru Nagar: Rs 1,002 per sq.ft (2024)
• Nethaji Nagar: Rs 1,002 per sq.ft (2024)
• Pancavarnam Street: Rs 1,001 per sq.ft (2024)

Stamp duty and registration fee for property in Mallika Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees to Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mallika Nagar?

The Sub Registrar Office that covers Mallika Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Sadayankuppam. It serves as the basis for calculating stamp duty and registration fees during the registration process. Buyers and sellers must be aware that the guideline value can influence the overall costs associated with property transactions.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. It is advisable for buyers to check the guideline value before finalizing any property deal to understand the associated costs better.

Frequently asked questions

What is the current guideline value of Mallika Nagar?

The current guideline value of Mallika Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 50 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2024, marking an overall increase of 1900% over the years.

What is the median guideline value in Sadayankuppam?

The median guideline value in Sadayankuppam for the year 2024 is Rs 1,002 per sq.ft.

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

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000.

Where is the Sub Registrar Office for Mallika Nagar located?

The Sub Registrar Office for Mallika Nagar is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.