Guideline Value for Malanganandapuram 8th Street

Malanganandapuram 8th Street guideline value

The current guideline value of Malanganandapuram 8th 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 8th Street has changed

The guideline value for Malanganandapuram 8th Street has undergone several revisions over the years. In 2003, the guideline value was Rs 171 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2007. This was a remarkable rise of 251%. Following this, the value surged to Rs 3,000 per sq.ft in 2012, marking a substantial increase of 400%. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a decline of 33%. The subsequent revision in 2023 brought the value back up to Rs 3,000 per sq.ft, and the latest revision in 2024 saw it rise to Rs 3,300 per sq.ft, an increase of 10% from the previous year.

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

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value 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 current value of Malanganandapuram 8th Street.

• Malanganandapuram 7th Street: Rs 3,300 per sq.ft (2024)
• Malanganathapuram 9th Street: Rs 3,300 per sq.ft (2024)
• Malanganandapuram 6th Street: Rs 3,300 per sq.ft (2024)
• Malanganandapuram 5th Street: Rs 3,300 per sq.ft (2024)
• Malanganandapuram 4th Street: Rs 3,300 per sq.ft (2024)
• Malanganandapuram 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Malanganandapuram 8th 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, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Malanganandapuram 8th Street?

The Sub Registrar Office that covers Malanganandapuram 8th 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 a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Malanganandapuram 8th Street?

The current guideline value of Malanganandapuram 8th 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%.

What is the land classification for Malanganandapuram 8th Street?

Malanganandapuram 8th Street is classified as Residential Class I Type - II.

Where can I find the registration office for Malanganandapuram 8th Street?

The registration office for Malanganandapuram 8th Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Malanganandapuram 8th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,31,000.