Guideline Value for MALONEY ROAD

Maloney Road guideline value

The current guideline value of Maloney Road in Tnagar village, under the Thiyagaraya nagar SRO, is Rs 11,000 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Maloney Road has changed

The guideline value for Maloney Road has seen several revisions over the years. In 2002, the value was Rs 2,181 per sq.ft, which increased to Rs 2,421 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 4,000 per sq.ft in 2007, reflecting a 65% increase. Following that, the value jumped to Rs 10,000 per sq.ft in 2012, representing a substantial 150% increase. However, in 2017, the value decreased to Rs 6,700 per sq.ft, showing a decline of 33%. The value then increased to Rs 10,000 per sq.ft in 2023, before reaching the current rate of Rs 11,000 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 404%. There are no figures available for the revisions in the years not mentioned in the provided data.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with the 2024 guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value is Rs 11,000 per sq.ft, which is equal to the current value for Maloney Road.

• Mambalam High Road: Rs 11,000 per sq.ft (2024)
• Malligai Nagar (M.T.B.Scheme): Rs 4,400 per sq.ft (2024)
• Mangesh Street: Rs 13,200 per sq.ft (2024)
• Mannar Reddy Street: Rs 7,700 per sq.ft (2024)
• Manokaran Street: Rs 7,700 per sq.ft (2024)
• Mahalakhsmi Street: Rs 17,600 per sq.ft (2024)

Stamp duty and registration fee for property in Maloney Road

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty would be charged at 7%, amounting to Rs 7,70,000, while the registration fee at 2% would be Rs 2,20,000. Together, the total cost for stamp duty and registration fee would be Rs 9,90,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Maloney Road?

The Sub Registrar Office that covers Maloney Road is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Tnagar. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately and in compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall cost of the transaction. The guideline value is updated periodically, reflecting changes in the real estate market and local conditions.

Frequently asked questions

What is the current guideline value of Maloney Road?

The current guideline value of Maloney Road is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,181 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, representing an overall increase of 404% over the years.

What are the stamp duty and registration fees for a property on Maloney Road?

For a 1,000 sq.ft property at the current guideline value, the total guideline value is Rs 1,10,00,000. The stamp duty would be Rs 7,70,000, and the registration fee would be Rs 2,20,000, totaling Rs 9,90,000.

Which office handles property registrations for Maloney Road?

The Thiyagaraya nagar Sub Registrar Office handles property registrations for Maloney Road, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees during property transactions. It ensures that transactions are recorded accurately in compliance with local regulations.