Guideline Value for Malai Nagar

Malai Nagar guideline value

The current guideline value of Malai Nagar, located in Acharapakkam village under the Acchirapakkam SRO, is Rs 400 per sq.ft as per the 2024 revision, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Malai Nagar has changed

Over the years, the guideline value of Malai Nagar has seen several revisions. The earliest recorded figure is from 2007, which was Rs 72 per sq.ft. This value increased significantly to Rs 300 per sq.ft in 2012, marking a rise of 317%. However, it then dropped to Rs 201 per sq.ft in 2017, a decrease of 33%. From 2017 to 2023, the value surged to Rs 400 per sq.ft, reflecting a substantial increase of 99%. The guideline value remained unchanged at Rs 400 per sq.ft from 2023 to 2024.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 456%, reaching the current rate of Rs 400 per sq.ft.

Guideline values in Acharapakkam

Acharapakkam village has 61 streets under the Acchirapakkam SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 600 per sq.ft. The median value for these streets is Rs 400 per sq.ft, which is equal to the guideline value of Malai Nagar.

• Mada Koil Street Ward 9: Rs 250 per sq.ft (2024)
• Loop Road (Bazaar Street): Rs 400 per sq.ft (2024)
• Loop Road: Rs 400 per sq.ft (2024)
• Markazhi Nagar: Rs 268 per sq.ft (2024)
• M G R Nagar Ward 8: Rs 350 per sq.ft (2024)
• M.K. Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Malai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Malai Nagar?

The Sub Registrar Office that covers Malai Nagar is the Acchirapakkam Sub Registrar Office, located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Acharapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately and fairly.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications of the transaction, as these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Malai Nagar?

The current guideline value of Malai Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 72 per sq.ft in 2007 to Rs 400 per sq.ft in 2024, marking a total increase of 456% over the years.

What is the land classification for Malai Nagar?

Malai Nagar is classified as Residential Special Type - I, which indicates its suitability for residential development.

Where can I find the Acchirapakkam Sub Registrar Office?

The Acchirapakkam Sub Registrar Office is located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone.

How is stamp duty calculated in Malai Nagar?

Stamp duty in Malai Nagar is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 at a rate of 7%.