Guideline Value for Malli Nagar

Malli Nagar guideline value

The current guideline value of Malli Nagar is Rs 1,375 per sq.ft, as per the 2023 revision. This area is located in Melakottyur village and falls under the Gooduvancheri SRO. The land classification for this region is Residential Special Type - IV.

How the guideline value of Malli Nagar has changed

In the 2012 revision, the guideline value was set at Rs 1,375 per sq.ft. However, this figure remained unchanged until the 2017 revision, where it dropped to Rs 921 per sq.ft, reflecting a decrease of 33%. The most recent revision in 2023 saw a significant increase, bringing the guideline value back up to Rs 1,375 per sq.ft, which represents a 49% increase from the 2017 figure.

Overall, from 2012 to 2023, the guideline value has remained the same at Rs 1,375 per sq.ft. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2024 for this street.

Guideline values in Melakottyur

Currently, there are no specific guideline values provided for other areas within Melakottyur. Malli Nagar is the only street mentioned under the Gooduvancheri SRO.

Stamp duty and registration fee for property in Malli Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,375 per sq.ft, the total guideline value would be Rs 13,75,000. The stamp duty at 7% would amount to Rs 96,250, and the registration fee at 2% would be Rs 27,500, making the total cost Rs 1,23,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Malli Nagar?

The Sub Registrar Office that covers Malli Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Melakottyur, the guideline value plays a crucial role in determining the registration costs. The guideline value is used to calculate the stamp duty and registration fees, which are mandatory for property transactions.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process. This value helps in establishing a baseline for the transaction, ensuring that all parties are informed of the financial obligations involved.

Frequently asked questions

What is the current guideline value of Malli Nagar?

The current guideline value of Malli Nagar is Rs 1,375 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value changed from Rs 1,375 per sq.ft in 2012 to Rs 921 per sq.ft in 2017, a decrease of 33%. It then increased back to Rs 1,375 per sq.ft in 2023, marking a 49% rise from the 2017 figure.

What is the stamp duty rate for properties in Malli Nagar?

The stamp duty rate for properties in Malli Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

Is there any guideline value for other streets in Melakottyur?

Currently, there are no specific guideline values provided for other streets in Melakottyur under the Gooduvancheri SRO.