Guideline Value for MALLIKAPURAM

Mallikapuram guideline value

The current guideline value of Mallikapuram is Rs 2,150 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Mallikapuram has changed

The guideline value for Mallikapuram has seen several revisions over the years. In 2002, the guideline value was Rs 236 per sq.ft, which increased to Rs 278 per sq.ft in 2003. Following this, there was a significant rise in 2007 to Rs 500 per sq.ft, and by 2012, it had increased to Rs 2,000 per sq.ft. However, in 2017, the value dropped to Rs 1,340 per sq.ft. The most recent revisions show an increase to Rs 2,000 per sq.ft in 2023, and then to Rs 2,150 per sq.ft in 2024, marking an 8% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 811%. Notably, there are no figures available for the revisions in years other than those mentioned for this street.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Mallikapuram is below this median.

• Manali Express Road: Rs 3,300 per sq.ft (2024)
• Mahaveer Nagar: Rs 1,900 per sq.ft (2024)
• Manikkam Nagar: Rs 3,300 per sq.ft (2024)
• Manikkam Nagar Extn: Rs 3,300 per sq.ft (2024)
• Madura Nagar: Rs 1,500 per sq.ft (2024)
• Market Lane Kaladipet: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Mallikapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 2,150 per sq.ft, the total guideline value would be Rs 21,50,000. The stamp duty at 7% would amount to Rs 1,50,500, and the registration fee at 2% would be Rs 43,000, making the total cost for these charges Rs 1,93,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mallikapuram?

Mallikapuram is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when buying or selling property in Thiruvottiyur, as it determines the minimum price at which a property can be registered. It is used to calculate the stamp duty and registration fees, which are mandatory for property transactions.

When a buyer or seller approaches the Thiruvottiyur SRO for registration, the guideline value is assessed to ensure compliance with local regulations. This ensures that all transactions are conducted transparently and fairly, reflecting the official value of the property.

Frequently asked questions

What is the current guideline value of Mallikapuram?

The current guideline value of Mallikapuram is Rs 2,150 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 236 per sq.ft in 2002 to Rs 2,150 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Mallikapuram?

Mallikapuram is classified as Residential Class I Type - II.

Where can I find the Thiruvottiyur Sub Registrar Office?

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

How is stamp duty calculated in Mallikapuram?

Stamp duty in Mallikapuram is calculated based on the guideline value or the sale price, whichever is higher, typically at a rate of 7%.