Guideline Value for Malai Oram Street (Near Subam Nagar)

Malai Oram Street (Near Subam Nagar) guideline value

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

How the guideline value of Malai Oram Street (Near Subam Nagar) has changed

The guideline value of Malai Oram Street has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 146 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2007, marking a change of +311%. The value remained unchanged at Rs 2,000 per sq.ft from 2012 until the 2023 revision. In 2023, it was again Rs 2,000 per sq.ft, with no change from the previous revision.

The most recent revision in 2024 saw the guideline value rise to Rs 2,160 per sq.ft, reflecting an increase of +8% from the 2023 value. Overall, from 2003 to 2024, the guideline value has increased by +1379%. The register does not have figures for the years 2017 and 2002 for this street.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with the 2024 guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value in this village is Rs 3,300 per sq.ft, indicating that Malai Oram Street's 2024 figure of Rs 2,160 per sq.ft is below the median.

• Malai Oram Street (Near Dharka Road): 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 Subam Nagar)

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, and the registration fee at 2% would be Rs 43,200, making the total cost for these fees Rs 1,94,400. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Malai Oram Street (Near Subam Nagar)?

The Sub Registrar Office that covers Malai Oram Street (Near Subam Nagar) 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 plays a crucial role in the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Malai Oram Street (Near Subam Nagar)?

The current guideline value of Malai Oram Street (Near Subam Nagar) 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 146 per sq.ft in 2003 to Rs 2,160 per sq.ft in 2024, reflecting an overall increase of +1379% over the years.

What are the stamp duty and registration fees for property in Malai Oram Street?

For a property valued at Rs 21,60,000, the stamp duty would be Rs 1,51,200 and the registration fee would be Rs 43,200, totaling Rs 1,94,400.

Which office handles property registrations for Malai Oram Street?

The Pallavaram Sub Registrar Office handles property registrations for Malai Oram Street (Near Subam Nagar), located in Chromepet, Chennai.

What is the land classification for Malai Oram Street?

Malai Oram Street is classified as Residential Class III Type - I, indicating its suitability for residential development.