Guideline Value for MAMALLAH FARMS

Mamallah Farms guideline value

The current guideline value of Mamallah Farms is Rs 1,700 per sq.ft, effective from 1 July 2024. This property is located in Sholinganallur - 1 village under the Neelankarai SRO, classified as Residential Class IV Type - I.

How the guideline value of Mamallah Farms has changed

The guideline value for Mamallah Farms has seen several revisions over the years. The 2017 revision set the value at Rs 1,005 per sq.ft, which increased to Rs 1,500 per sq.ft in 2023. The most recent revision in 2024 raised the guideline value to Rs 1,700 per sq.ft, marking a 13% increase from 2023 and a significant 69% increase since 2017.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. The substantial rise from Rs 1,005 in 2017 to Rs 1,700 in 2024 reflects the changes in the guideline value over this period.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Mamallah Farms is below this median.

• Mallikeswari Lane: Rs 1,700 per sq.ft (2024)
• Maillika Street(Grama Nedunchalai 4th Cross Street): Rs 2,200 per sq.ft (2024)
• Manickam Street: Rs 1,700 per sq.ft (2024)
• Manicka Vasagar Street(Grama Nedunchalai 37th Cross Street): Rs 2,200 per sq.ft (2024)
• Marbhi Street: Rs 1,700 per sq.ft (2024)
• Mark Garden: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Mamallah Farms

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mamallah Farms?

The Mamallah Farms property falls under the Neelankarai Sub Registrar Office located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor in the registration process when buying or selling property in Sholinganallur - 1. 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 registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mamallah Farms?

The current guideline value of Mamallah Farms is Rs 1,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,005 per sq.ft to Rs 1,700 per sq.ft in 2024, reflecting a 69% overall increase. The most recent revision from 2023 to 2024 saw an increase of 13%.

What are the other streets in Sholinganallur - 1?

Other streets in Sholinganallur - 1 include Mallikeswari Lane, Maillika Street, Manickam Street, Manicka Vasagar Street, Marbhi Street, and Mark Garden, with varying guideline values.

What is the registration fee for property in Mamallah Farms?

The registration fee for property in Mamallah Farms is calculated based on the guideline value. For example, for a property valued at Rs 17,00,000, the registration fee would be Rs 34,000 at 2%.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.