Guideline Value for Malayappan street

Malayappan street guideline value

The current guideline value of Malayappan street in Muthialpet village is Rs 14,800 per sq.ft, effective from 1 July 2024. This street falls under the Chennai North Joint I SRO and is classified as Commercial Class I Type - III.

How the guideline value of Malayappan street has changed

The guideline value for Malayappan street has seen significant changes over the years. In 2002, the value was Rs 1,447 per sq.ft. It increased to Rs 1,645 per sq.ft in 2003, marking a change of +14%. The value then rose dramatically to Rs 4,500 per sq.ft in 2007, reflecting a substantial increase of +174%. Following this, in 2012, the value was Rs 13,500 per sq.ft, which was a notable increase of +200% from the previous revision. However, this figure dropped by -33% to Rs 9,045 per sq.ft in 2017.

From 2017 to 2023, the guideline value surged by +49% to reach Rs 13,500 per sq.ft. The most recent revision in 2024 set the value at Rs 14,800 per sq.ft, an increase of +10% from the previous year. Overall, from 2002 to 2024, the guideline value has increased by +923%. There are no figures available for other revisions for this street.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO, with guideline values ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, placing the guideline value of Malayappan street above this median.

• Maleeswarar Koil street north: Rs 4,900 per sq.ft (2024)
• Maleeswarar Koil street south: Rs 4,900 per sq.ft (2024)
• Maleeswarar Pillar street *: Rs 4,900 per sq.ft (2024)
• Mannady street: Rs 14,800 per sq.ft (2024)
• Maglene street: Rs 4,900 per sq.ft (2024)
• Maracoir street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Malayappan street

For a 1,000 sq.ft plot at the current guideline value of Rs 14,800 per sq.ft, the total guideline value would be Rs 1,48,00,000. The stamp duty at 7% would amount to Rs 10,36,000, and the registration fee at 2% would be Rs 2,96,000, bringing the total to Rs 13,32,000. It's important to note that the 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 Malayappan street?

The Sub Registrar Office that covers Malayappan street is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property transactions in Muthialpet. It serves as a benchmark for determining the minimum value at which property can be registered. Buyers and sellers must be aware of this value to ensure compliance with registration requirements.

When registering a property, the guideline value is used to calculate applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Malayappan street?

The current guideline value of Malayappan street is Rs 14,800 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 1,447 per sq.ft in 2002 to Rs 14,800 per sq.ft in 2024, reflecting an overall increase of +923% over this period.

What is the land classification for Malayappan street?

Malayappan street is classified as Commercial Class I Type - III under the Chennai North Joint I SRO.

How is stamp duty calculated for properties on Malayappan street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 1,48,00,000 would incur a stamp duty of Rs 10,36,000 at 7%.

Where can I find the Sub Registrar Office for Malayappan street?

The Sub Registrar Office for Malayappan street is located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.