Guideline Value for Malanganandapuram 5th Street

Malanganandapuram 5th Street guideline value

The current guideline value of Malanganandapuram 5th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - II.

How the guideline value of Malanganandapuram 5th Street has changed

The guideline value for Malanganandapuram 5th Street has seen several revisions over the years. The earliest recorded value is from 2003, which was Rs 171 per sq.ft. This value increased significantly to Rs 1,212 per sq.ft in 2007, marking a substantial rise of 609%. Following this, the value jumped to Rs 3,000 per sq.ft in 2012, an increase of 148%. However, in 2017, the value dropped to Rs 2,010 per sq.ft, reflecting a decrease of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024, which is 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 the register has no figure for the year 2002 for this street.

Guideline values in Zaminpallavaram

Zaminpallavaram 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 in this area is Rs 3,300 per sq.ft, which is the same as the current value for Malanganandapuram 5th Street.

• Malanganandapuram 4th Street: Rs 3,300 per sq.ft (2024)
• Malanganandapuram 6th Street: Rs 3,300 per sq.ft (2024)
• Malanganandapuram 3rd Street: Rs 3,300 per sq.ft (2024)
• Malanganandapuram 7th Street: Rs 3,300 per sq.ft (2024)
• Malanganandapuram 2nd Street: Rs 3,300 per sq.ft (2024)
• Malanganandapuram 8th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Malanganandapuram 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, these fees would total 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Malanganandapuram 5th Street?

The Sub Registrar Office that covers Malanganandapuram 5th 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 details.

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

The guideline value is a crucial factor when buying or selling property in Zaminpallavaram. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for taxation purposes. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during the registration process.

When a property is sold, the guideline value serves as a baseline for calculating stamp duty and registration fees. This means that both parties should consider the guideline value to ensure compliance with local regulations and to facilitate a smooth transaction.

Frequently asked questions

What is the current guideline value of Malanganandapuram 5th Street?

The current guideline value of Malanganandapuram 5th 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 from Rs 171 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1830% over the years.

What are the stamp duty and registration fees for properties in this area?

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 office handles property registrations for Malanganandapuram 5th Street?

The Pallavaram Sub Registrar Office handles property registrations for Malanganandapuram 5th Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What is the land classification for Malanganandapuram 5th Street?

Malanganandapuram 5th Street is classified as Residential Class I Type - II, indicating its suitability for residential development.