Guideline Value for Malleeswari Nagar

Malleeswari Nagar guideline value

The current guideline value of Malleeswari Nagar, located in Madambakkam village, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur SRO and is classified as Commercial Class I Type - I.

How the guideline value of Malleeswari Nagar has changed

The guideline value for Malleeswari Nagar has seen a revision from Rs 2,500 per sq.ft in 2012 to Rs 2,750 per sq.ft in 2024, marking a 10% increase over this period. The register does not contain figures for the years 2002, 2003, 2007, 2017, and 2023 for this street.

Prior to the 2012 revision, the guideline value for Malleeswari Nagar was not specified in the register for the years listed. The 2024 figure of Rs 2,750 per sq.ft is the most current and reflects the latest assessment.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value across these streets is Rs 2,400 per sq.ft, indicating that Malleeswari Nagar's current value is above the median.

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

Stamp duty and registration fee for property in Malleeswari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Malleeswari Nagar?

The Sub Registrar Office covering Malleeswari Nagar 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 during property registration in Madambakkam. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation of the property.

When buying or selling property, the guideline value helps both parties understand the minimum value recognized by the government, which can influence negotiations and final sale prices. It is essential for buyers and sellers to be aware of these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Malleeswari Nagar?

The current guideline value of Malleeswari Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 2,500 per sq.ft in 2012 to Rs 2,750 per sq.ft in 2024, representing a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2017, and 2023.

What is the classification of land in Malleeswari Nagar?

Malleeswari Nagar is classified as Commercial Class I Type - I, which indicates its suitability for commercial activities.

What are the stamp duty and registration fees for a property in Malleeswari Nagar?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500. These fees are calculated based on the higher of the guideline value or the sale price.

Which office handles registrations for Malleeswari Nagar?

The Selaiyur Sub Registrar Office handles registrations for Malleeswari Nagar, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.