Guideline Value for Malladi Garden Street

Malladi Garden Street guideline value

The current guideline value of Malladi Garden Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as Residential Class II Type - I.

How the guideline value of Malladi Garden Street has changed

The guideline value for Malladi Garden Street has seen several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft. This figure remained unchanged until 2017 when it decreased to Rs 1,005 per sq.ft. The next revision in 2023 raised the value to Rs 1,500 per sq.ft, followed by a further increase to Rs 1,600 per sq.ft in 2024. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. Overall, from 2012 to 2024, the value has increased by 7%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for the village is Rs 2,400 per sq.ft, placing Malladi Garden Street's 2024 value below this median.

• Malladi Garden Main Road: Rs 1,600 per sq.ft (2024)
• Malladi Garden 1st Street: Rs 1,600 per sq.ft (2024)
• Malleeswari Nagar: Rs 2,750 per sq.ft (2024)
• Malleeswari Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Malleeswari Nagar 1st Main Road: Rs 2,750 per sq.ft (2024)
• Malleeswari Nagar 1st Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Malladi Garden Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000. Together, the total cost for these fees would be Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Malladi Garden Street?

The Sub Registrar Office that covers Malladi Garden Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Madambakkam. It serves as a benchmark for determining the minimum price at which properties can be registered. When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees.

During the registration process, the guideline value ensures that the transaction is recorded at a fair price, reflecting the market conditions. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration of property.

Frequently asked questions

What is the current guideline value of Malladi Garden Street?

The current guideline value of Malladi Garden Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 7%.

What is the land classification for Malladi Garden Street?

Malladi Garden Street is classified as Residential Class II Type - I, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Malladi Garden Street?

The Sub Registrar Office for Malladi Garden Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Malladi Garden Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at a rate of 7%.