Guideline Value for Malayametu Street

Malayametu Street guideline value

The current guideline value of Malayametu Street is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Uthiramerur village, under the Uthiramerur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Malayametu Street has changed

The guideline value for Malayametu Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 100 per sq.ft. This figure increased significantly to Rs 1,000 per sq.ft in the 2012 revision, marking a rise of 900%. However, in the 2017 revision, the value decreased to Rs 670 per sq.ft, a reduction of 33%. The 2023 revision maintained the value at Rs 1,000 per sq.ft, and the 2024 revision also has it at Rs 1,000 per sq.ft, showing no change between these two years. The register has no figure for this street for the years 2002 and 2003.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 900%. The changes reflect fluctuations in the property's valuation over the years, with the most significant increase occurring between 2007 and 2012.

Guideline values in Uthiramerur

In Uthiramerur village, there are 180 streets under the Uthiramerur SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 1,800 per sq.ft. The median value for these streets is Rs 800 per sq.ft, placing Malayametu Street's 2024 value above this median.

• Maliyangaranai Madhura Manikka Naththam: Rs 700 per sq.ft (2024)
• Mallicheri: Rs 250 per sq.ft (2024)
• Malligapuram 1st Street: Rs 350 per sq.ft (2024)
• Malligapuram 2nd Street: Rs 350 per sq.ft (2024)
• Malligapuram 3rd Street: Rs 350 per sq.ft (2024)
• Malligapuram 4th Street: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Malayametu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees to Rs 90,000. Duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Malayametu Street?

The Sub Registrar Office that covers Malayametu Street is the Uthiramerur Sub Registrar Office, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Uthiramerur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. Buyers should be aware that the stamp duty is calculated on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Malayametu Street?

The current guideline value of Malayametu Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017, and has remained at Rs 1,000 per sq.ft in both 2023 and 2024.

What are the stamp duty rates for properties in Malayametu Street?

The stamp duty for properties in Malayametu Street is charged at 7% of the guideline value or sale price, whichever is higher.

Which registration office is responsible for Malayametu Street?

The Uthiramerur Sub Registrar Office is responsible for Malayametu Street, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone.

What is the median guideline value for streets in Uthiramerur?

The median guideline value for the 180 streets in Uthiramerur is Rs 800 per sq.ft, with Malayametu Street's value of Rs 1,000 per sq.ft being above this median.