Guideline Value for Malanganandapuram 6th Street

Malanganandapuram 6th Street guideline value

The current guideline value of Malanganandapuram 6th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Malanganandapuram 6th Street has changed

The guideline value for Malanganandapuram 6th Street has undergone several revisions over the years. The earliest recorded figure is from 2003, which was Rs 171 per sq.ft. This figure increased significantly to Rs 600 per sq.ft in 2007, marking a rise of 251%. The value then surged to Rs 3,000 per sq.ft in 2012, reflecting a remarkable increase of 400%. However, between 2012 and 2017, the value decreased to Rs 2,010 per sq.ft, a decline of 33%. The subsequent revision in 2023 saw the guideline value rise to Rs 3,000 per sq.ft, followed by a further increase to Rs 3,300 per sq.ft in 2024, which is a change of 10%.

Overall, from 2003 to 2024, the guideline value has increased by 1,830%. It is important to note that there is no recorded figure for the year 2002 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 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 equal to the 2024 figure for Malanganandapuram 6th Street.

• Malanganandapuram 5th Street: Rs 3,300 per sq.ft (2024)
• Malanganandapuram 7th Street: Rs 3,300 per sq.ft (2024)
• Malanganandapuram 4th Street: Rs 3,300 per sq.ft (2024)
• Malanganandapuram 8th Street: Rs 3,300 per sq.ft (2024)
• Malanganandapuram 3rd Street: Rs 3,300 per sq.ft (2024)
• Malanganathapuram 9th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Malanganandapuram 6th 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, making the total cost for these fees 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. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Malanganandapuram 6th Street?

The Sub Registrar Office that covers Malanganandapuram 6th Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the 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 plays a crucial role in the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the value of the property for the purpose of calculating stamp duty and registration fees. Buyers and sellers must be aware that the guideline value is used to ensure that the transaction is recorded accurately in the official registry.

Additionally, the guideline value helps maintain transparency in property transactions. It ensures that the government receives appropriate revenue from property sales, as the stamp duty is calculated based on this value or the sale price, whichever is higher. This system is designed to protect the interests of both buyers and sellers in the real estate market.

Frequently asked questions

What is the current guideline value of Malanganandapuram 6th Street?

The current guideline value of Malanganandapuram 6th 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 increased from Rs 171 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 1,830% 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.

Where is the Sub Registrar Office for Malanganandapuram 6th Street located?

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

What is the land classification for Malanganandapuram 6th Street?

The land classification for Malanganandapuram 6th Street is Residential Class I Type - II.