Guideline Value for Malli Cross Street

Malli Cross Street guideline value

The current guideline value of Malli Cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Peerklankaranai village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Malli Cross Street has changed

Over the years, the guideline value of Malli Cross Street has seen several revisions. The 2012 revision set the value at Rs 1,000 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 670 per sq.ft. Following this, the 2023 revision brought the value back up to Rs 1,000 per sq.ft, and the most recent 2024 revision increased it to Rs 1,100 per sq.ft, marking a 10% rise from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,400 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which means that the guideline value of Malli Cross Street is below this median.

• Malli Street: Rs 1,320 per sq.ft (2024)
• Manikandan St: Rs 1,100 per sq.ft (2024)
• Manimegalai Street: Rs 1,650 per sq.ft (2024)
• Mani Street: Rs 2,200 per sq.ft (2024)
• Mani street ext: Rs 1,650 per sq.ft (2024)
• Maraimalai Adigal Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Malli Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value is Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost for these fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Malli Cross Street?

The Sub Registrar Office that covers Malli Cross Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Peerklankaranai

The guideline value is a crucial factor when buying or selling property in Peerklankaranai. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

During the registration process, the guideline value is used to calculate the stamp duty and registration fees. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies or issues during the transaction.

Frequently asked questions

What is the current guideline value of Malli Cross Street?

The current guideline value of Malli Cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and is now Rs 1,100 per sq.ft in 2024.

What is the land classification for Malli Cross Street?

The land classification for Malli Cross Street is Residential Class II Type - I.

How does the guideline value compare to other streets in Peerklankaranai?

The guideline value of Malli Cross Street is below the median value of Rs 1,650 per sq.ft for the 322 streets in Peerklankaranai under the Tambaram Joint 1 SRO.

Where can I find the Sub Registrar Office for Malli Cross Street?

The Tambaram Joint 1 Sub Registrar Office, which covers Malli Cross Street, is located at No.26, Mes Road, East Tambaram, Chennai-600059.