Guideline Value for Malai Oram Street (Near Dharka Road)

Malai Oram Street (Near Dharka Road) guideline value

The current guideline value of Malai Oram Street (Near Dharka Road) is Rs 2,160 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Malai Oram Street (Near Dharka Road) has changed

The guideline value for Malai Oram Street has undergone several revisions over the years. Starting from the 2003 revision, the value was Rs 486 per sq.ft. This increased to Rs 800 per sq.ft in 2007, followed by a significant jump to Rs 2,000 per sq.ft in 2012. However, in the 2017 revision, the value decreased to Rs 1,340 per sq.ft. The next revision in 2023 saw it rise to Rs 2,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,160 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 was 8%. Notably, the overall increase from the 2003 revision to the 2024 revision is 344%. The register has no figure for this street in 2002.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Malai Oram Street (Near Dharka Road) has a guideline value that is below this median.

• Malai Oram Street (Near Subam Nagar): Rs 2,160 per sq.ft (2024)
• Malanganandapuram: Rs 3,300 per sq.ft (2024)
• Malanganandapuram 1st Street: Rs 3,300 per sq.ft (2024)
• Malanganandapuram 2nd Street: Rs 3,300 per sq.ft (2024)
• Malanganandapuram 3rd Street: Rs 3,300 per sq.ft (2024)
• Malanganandapuram 4th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Malai Oram Street (Near Dharka Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, while the registration fee at 2% would be Rs 43,200, bringing the total fees to Rs 1,94,400. 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 Malai Oram Street (Near Dharka Road)?

The Sub Registrar Office that covers Malai Oram Street (Near Dharka Road) is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the property registration process in Zaminpallavaram. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for calculating the applicable charges. Buyers should be aware that the stamp duty is applied based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Malai Oram Street (Near Dharka Road)?

The current guideline value of Malai Oram Street (Near Dharka Road) is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 486 per sq.ft in 2003 to Rs 2,160 per sq.ft in 2024, with several revisions in between.

What is the stamp duty rate for properties in Malai Oram Street?

The stamp duty rate for properties in Malai Oram Street is 7% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office covers this area?

The Pallavaram Sub Registrar Office covers Malai Oram Street (Near Dharka Road), located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What are the other streets in Zaminpallavaram with their guideline values?

Other streets in Zaminpallavaram include Malai Oram Street (Near Subam Nagar) at Rs 2,160 per sq.ft, and Malanganandapuram at Rs 3,300 per sq.ft, among others.