Guideline Value for Malai Matha Nagar

Malai Matha Nagar guideline value

The current guideline value of Malai Matha Nagar is Rs 605 per sq.ft, effective from 1 July 2024. This area is located in Thirumangalam village, under the Sunguvarchattram SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Malai Matha Nagar has changed

The guideline value for Malai Matha Nagar has undergone several revisions over the years. The earliest recorded figure is Rs 200 per sq.ft from the 2012 revision. This value increased to Rs 405 per sq.ft in the 2017 revision, marking a significant rise of 103%. The guideline value then saw a substantial increase to Rs 605 per sq.ft in the 2023 revision, which remained unchanged in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has risen by 203%. There are no figures available for the revisions in the years 2002, 2003, and 2007 for this street.

Guideline values in Thirumangalam

In Thirumangalam, there are 42 streets under the Sunguvarchattram SRO that have a 2024 guideline value ranging from Rs 250 to Rs 2,000 per sq.ft. The median guideline value is Rs 605 per sq.ft, which is the same as the current value for Malai Matha Nagar.

• Mahalakshmi Nagar: Rs 800 per sq.ft (2024)
• Kuravar Street: Rs 605 per sq.ft (2024)
• Mettu Street: Rs 300 per sq.ft (2024)
• Kulakarai Ist street: Rs 700 per sq.ft (2024)
• Kulakarai IInd Street: Rs 700 per sq.ft (2024)
• Moogambiga Nagar: Rs 605 per sq.ft (2024)

Stamp duty and registration fee for property in Malai Matha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 605 per sq.ft, the total guideline value would be Rs 6,05,000. The stamp duty at 7% would amount to Rs 42,350, while the registration fee at 2% would be Rs 12,100. Together, the total cost for stamp duty and registration would be Rs 54,450. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Malai Matha Nagar?

The Sub Registrar Office that covers Malai Matha Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial element in the property registration process in Thirumangalam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that must be paid during the transaction.

When buying or selling property, the guideline value ensures that both parties are aware of the official valuation set by the government. It helps maintain transparency in property transactions and ensures that the correct fees are collected based on the established rates.

Frequently asked questions

What is the current guideline value of Malai Matha Nagar?

The current guideline value of Malai Matha Nagar is Rs 605 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 200 per sq.ft in 2012 to Rs 605 per sq.ft in 2024, marking an overall increase of 203% over this period.

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

For a 1,000 sq.ft plot, the total guideline value would be Rs 6,05,000. The stamp duty would be Rs 42,350 and the registration fee would be Rs 12,100, totaling Rs 54,450.

Which Sub Registrar Office covers Malai Matha Nagar?

The Sunguvarchattram Sub Registrar Office covers Malai Matha Nagar, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

What is the land classification of Malai Matha Nagar?

Malai Matha Nagar is classified as Residential Class IV Type - I, indicating its designation for residential purposes within the area.