Guideline Value for Malli Street

Malli Street guideline value

The current guideline value of Malli Street in Peerklankaranai village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Malli Street has changed

The guideline value for Malli Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, reflecting a 49% rise from the 2017 figure. The latest revision in 2024 has further increased the value to Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 in the register for Malli Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that have a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft, with a median value of Rs 1,650 per sq.ft. Malli Street's 2024 figure is below this median.

• Malli Cross Street: Rs 1,100 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Malli Street?

The Sub Registrar Office that covers Malli 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 information.

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

The guideline value is a crucial factor when registering property transactions in Peerklankaranai. It determines the minimum value at which a property can be sold, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It serves as a benchmark for pricing and can influence negotiations during the sale process.

Frequently asked questions

What is the current guideline value of Malli Street?

The current guideline value of Malli Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Malli Street?

Malli Street is classified as Residential Class I Type - III.

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

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

How is stamp duty calculated for properties on Malli Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in a total fee of Rs 1,18,800.