Guideline Value for MALLIKAI NAGAR

Mallikai Nagar guideline value

The current guideline value of Mallikai Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This locality is situated in Vannipakkam village and falls under the Ponneri Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Mallikai Nagar has changed

The guideline value for Mallikai Nagar has undergone several revisions over the years. The register shows that in the 2017 revision, the value was Rs 134 per sq.ft. This figure increased to Rs 200 per sq.ft in the 2023 revision, marking a significant increase of 49%. The 2024 revision maintains this value at Rs 200 per sq.ft, reflecting no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for Mallikai Nagar. Overall, from the 2017 revision to the 2024 revision, there has been a total increase of 49% in the guideline value.

Guideline values in Vannipakkam

In Vannipakkam, there are seven streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 250 per sq.ft, with a median value of Rs 200 per sq.ft. Mallikai Nagar's 2024 guideline value aligns with this median at Rs 200 per sq.ft.

• M.G.M. Nagar: Rs 200 per sq.ft (2024)
• M.N.Garden Phase I: Rs 250 per sq.ft (2024)
• M.N.Garden Phase II: Rs 250 per sq.ft (2024)
• Sri Bhavani Nagar: Rs 200 per sq.ft (2024)
• Sri Mugambigai Nagar: Rs 200 per sq.ft (2024)
• Srinivasapuram: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Mallikai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty is charged at 7%, resulting in Rs 14,000, while the registration fee is 2%, amounting to Rs 4,000. Therefore, the total cost for stamp duty and registration fees together is Rs 18,000. 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 detailed calculations.

Which Sub Registrar Office covers Mallikai Nagar?

Mallikai Nagar is covered by the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vannipakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Mallikai Nagar?

The current guideline value of Mallikai Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023, and it has remained at Rs 200 per sq.ft in 2024, representing a total increase of 49% from 2017 to 2024.

What are the other streets in Vannipakkam with their guideline values?

Other streets in Vannipakkam include M.G.M. Nagar at Rs 200 per sq.ft, M.N.Garden Phase I and II at Rs 250 per sq.ft, and Sri Bhavani Nagar, Sri Mugambigai Nagar, and Srinivasapuram at Rs 200 per sq.ft.

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

For a property valued at Rs 2,00,000, the stamp duty is Rs 14,000, and the registration fee is Rs 4,000, totaling Rs 18,000.

Where is the Sub Registrar Office for Mallikai Nagar located?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204, and it covers Mallikai Nagar.