Guideline Value for Malaimedu Road

Malaimedu Road guideline value

The current guideline value of Malaimedu Road in Hastinapuram village is Rs 1,650 per sq.ft, effective from the 2024 revision. This road falls under the Pallavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Malaimedu Road has changed

The guideline value of Malaimedu Road has seen several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, this figure dropped to Rs 1,005 per sq.ft in 2017. The 2023 revision marked a rise to Rs 1,500 per sq.ft, and the most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

Looking at the changes between revisions, from 2007 to 2012, the value increased by 275%. From 2012 to 2017, there was a decrease of 33%. The value then rose by 49% from 2017 to 2023, and finally, from 2023 to 2024, it increased by 10%. Overall, the guideline value has increased by 313% from 2007 to 2024. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, positioning Malaimedu Road's 2024 figure below this median.

• Maheswari Nagar 5th Street: Rs 2,970 per sq.ft (2024)
• Maheswari Nagar (1 To 4 Cross Streets): Rs 2,970 per sq.ft (2024)
• Maheshwari Nagar Maheswari Street: Rs 2,970 per sq.ft (2024)
• Maheshwari Nagar 4th Street: Rs 2,970 per sq.ft (2024)
• Maheshwari Nagar 3rd Street: Rs 2,970 per sq.ft (2024)
• Maheshwari Nagar 2nd Street: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Malaimedu Road

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 16,50,000. The stamp duty, charged at 7%, would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Malaimedu Road?

The Sub Registrar Office that covers Malaimedu 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 Hastinapuram

The guideline value is a crucial factor when registering property transactions in Hastinapuram. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the transaction is officially recognized and taxed appropriately.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. Buyers must be aware that these fees are based on the guideline value or the sale price, whichever is higher, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Malaimedu Road?

The current guideline value of Malaimedu Road is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 313% over this period.

What are the other streets in Hastinapuram with similar guideline values?

Other streets in Hastinapuram have guideline values ranging from Rs 1,650 to Rs 4,400 per sq.ft, with the median being Rs 2,970 per sq.ft.

What are the stamp duty and registration fees for properties in Malaimedu Road?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Where can I find the Sub Registrar Office for Malaimedu Road?

The Sub Registrar Office for Malaimedu Road is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.