Guideline Value for Malanganandapuram 1st Street

Malanganandapuram 1st Street guideline value

The current guideline value of Malanganandapuram 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, which falls under the Pallavaram SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Malanganandapuram 1st Street has changed

The guideline value for Malanganandapuram 1st Street has seen several revisions over the years. Starting from the 2003 revision, the guideline value was Rs 171 per sq.ft. This increased to Rs 600 per sq.ft in 2007, marking a significant rise of 251%. The value then surged to Rs 3,000 per sq.ft in 2012, which was a remarkable increase of 400%. However, the 2017 revision saw a decrease to Rs 2,010 per sq.ft, a drop of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, and finally, it reached Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 1830%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is the same as the 2024 figure for Malanganandapuram 1st Street.

• Malanganandapuram: 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)
• Malanganandapuram 5th Street: Rs 3,300 per sq.ft (2024)
• Malanganandapuram 6th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Malanganandapuram 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the 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 Malanganandapuram 1st Street?

The Sub Registrar Office that covers Malanganandapuram 1st Street 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 registration process when buying or selling property in Zaminpallavaram. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately and legally.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions within the region.

Frequently asked questions

What is the current guideline value of Malanganandapuram 1st Street?

The current guideline value of Malanganandapuram 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 171 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1830% over this period.

What are the stamp duty and registration fees for property in Malanganandapuram 1st Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Malanganandapuram 1st Street?

The Pallavaram Sub Registrar Office covers Malanganandapuram 1st Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Malanganandapuram 1st Street?

The land classification for Malanganandapuram 1st Street is Residential Class I Type - II.