Guideline Value for Malliam Narasima nagar

Malliam Narasima nagar guideline value

The current guideline value of Malliam Narasima nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Poonthamallee village under the Poonamallee SRO and is classified as Residential Class II Type - I.

How the guideline value of Malliam Narasima nagar has changed

The guideline value for Malliam Narasima nagar has seen significant changes over the years. In 2007, the guideline value was Rs 200 per sq.ft, which increased dramatically to Rs 2,000 per sq.ft by 2012, marking a rise of 900%. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 1000%, showcasing a significant upward trend in value over the years.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the guideline value of Malliam Narasima nagar.

• Mani Nagar: Rs 2,200 per sq.ft (2024)
• Mahalakshmi nagar: Rs 2,200 per sq.ft (2024)
• Magamadan quarters: Rs 2,200 per sq.ft (2024)
• Mariamman koil street: Rs 2,200 per sq.ft (2024)
• Maaran nagar: Rs 2,200 per sq.ft (2024)
• Masudhi street: Rs 2,740 per sq.ft (2024)

Stamp duty and registration fee for property in Malliam Narasima nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Malliam Narasima nagar?

The Sub Registrar Office that covers Malliam Narasima nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Poonthamallee. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction.

When a property is sold, the guideline value is used to calculate the applicable duties and fees, ensuring that they are based on a standardized value rather than the sale price alone. This helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Malliam Narasima nagar?

The current guideline value of Malliam Narasima nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting a total increase of 1000% over the years.

What is the land classification of Malliam Narasima nagar?

Malliam Narasima nagar is classified as Residential Class II Type - I.

What are the other streets with the same guideline value in Poonthamallee?

Other streets in Poonthamallee with the same guideline value of Rs 2,200 per sq.ft include Mani Nagar, Mahalakshmi nagar, Magamadan quarters, Mariamman koil street, and Maaran nagar.

Where can I find the Poonamallee Sub Registrar Office?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find more details about it through the provided link.