Guideline Value for Malaicharivu Road

Malaicharivu Road guideline value

The current guideline value of Malaicharivu Road in Thalakanancherry village, under the Alandur SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of Malaicharivu Road has changed

The guideline value for Malaicharivu Road has seen several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, it then dropped to Rs 1,675 per sq.ft in 2017. The 2023 revision brought it back up to Rs 2,500 per sq.ft, and the latest revision in 2024 has set it at Rs 2,800 per sq.ft. The changes between these revisions include a 257% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 12% increase from 2023 to 2024.

The register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value is Rs 3,900 per sq.ft, making Malaicharivu Road's current value below this median.

• Mangaiyarkarasi Nagar: Rs 3,900 per sq.ft (2024)
• Mangaiyarkarasi Nagar 46 th street 1st cross street: Rs 3,900 per sq.ft (2024)
• Manimegalai Colony: Rs 2,800 per sq.ft (2024)
• Manimegalai Street: Rs 3,900 per sq.ft (2024)
• Madippakkam Main road: Rs 5,500 per sq.ft (2024)
• Madhavan Nagar 2nd Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Malaicharivu Road

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Malaicharivu Road?

The Malaicharivu Road is covered by the Alandur Sub Registrar Office located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration process of property transactions in Thalakanancherry. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When you register a property, 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 the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Malaicharivu Road?

The current guideline value of Malaicharivu Road is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, marking an overall increase of 300% over the years.

What is the land classification for Malaicharivu Road?

Malaicharivu Road is classified as Residential Class II Type - II under the current guidelines.

Where can I find the registration office for Malaicharivu Road?

The registration office for Malaicharivu Road is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties on Malaicharivu Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 28,00,000 would incur a stamp duty of Rs 1,96,000 at 7%.