Guideline Value for Malai Street

Malai Street guideline value

The current guideline value of Malai Street in Allappakkam village is Rs 800 per sq.ft, effective from 1 July 2024. This street falls under the Chengleput Joint I SRO and is classified as Residential Class I Type - I.

How the guideline value of Malai Street has changed

The guideline value for Malai Street has seen several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 800 per sq.ft. In 2017, this value dropped to Rs 536 per sq.ft, marking a decrease of 33%. However, by the 2023 revision, the value increased significantly to Rs 800 per sq.ft, reflecting a 49% increase from the 2017 figure. The current value remains the same as the previous year, with no change from 2023 to 2024.

There are no recorded figures for Malai Street in the revisions of 2002, 2003, and 2007.

Guideline values in Allappakkam

In Allappakkam village, there are 51 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 600 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,102 per sq.ft, placing Malai Street's 2024 value below this median.

• Mathina Nagar: Rs 1,102 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,102 per sq.ft (2024)
• Kurinji Nagar: Rs 902 per sq.ft (2024)
• Mount N Clave @ Vidyarthi Nagar: Rs 902 per sq.ft (2024)
• Kengu Nagar: Rs 600 per sq.ft (2024)
• Nsk Nagar I II III IV: Rs 902 per sq.ft (2024)

Stamp duty and registration fee for property in Malai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total fees to Rs 72,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Malai Street?

Malai Street is covered by the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Allappakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that are payable during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value to ensure they are compliant with the legal requirements during property transactions. This value is regularly updated and reflects the prevailing market conditions as per the Registration Department's guidelines.

Frequently asked questions

What is the current guideline value of Malai Street?

The current guideline value of Malai Street is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Malai Street has remained at Rs 800 per sq.ft since 2012, with a drop to Rs 536 per sq.ft in 2017, followed by an increase back to Rs 800 per sq.ft in 2023.

What is the land classification for Malai Street?

Malai Street is classified as Residential Class I Type - I under the Chengleput Joint I SRO.

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

For a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000 and the registration fee would be Rs 16,000, totaling Rs 72,000.

Which Sub Registrar Office covers Malai Street?

Malai Street is covered by the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.