Guideline Value for Mallicheri

Mallicheri guideline value

The current guideline value of Mallicheri, located in Uthiramerur village under the Uthiramerur SRO, is Rs 250 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - III.

How the guideline value of Mallicheri has changed

Over the years, the guideline value for Mallicheri has seen several revisions. The 2007 revision set the rate at Rs 100 per sq.ft, which increased to Rs 250 per sq.ft in the 2012 revision. However, in the subsequent 2017 revision, the value fell to Rs 167 per sq.ft, before rising again to Rs 250 per sq.ft in both the 2023 and 2024 revisions. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was an increase of 50%, while the change from 2012 to 2017 was a decrease of 33%. The significant jump from 2007 to 2012 was 150%. Overall, from 2007 to 2024, the guideline value has increased by 150%.

Guideline values in Uthiramerur

In Uthiramerur, there are 180 streets under the Uthiramerur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,800 per sq.ft, with a median value of Rs 800 per sq.ft. The guideline value for Mallicheri is below this median.

• Malligapuram 1st Street: Rs 350 per sq.ft (2024)
• Malligapuram 2nd Street: Rs 350 per sq.ft (2024)
• Malligapuram 3rd Street: Rs 350 per sq.ft (2024)
• Malligapuram 4th Street: Rs 350 per sq.ft (2024)
• Malligapuram Suppan Street: Rs 350 per sq.ft (2024)
• Malliyankaranai: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Mallicheri

For a 1,000 sq.ft plot at the current rate of Rs 250 per sq.ft, the guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Mallicheri?

The Sub Registrar Office that covers Mallicheri is the Uthiramerur Sub Registrar Office, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor when registering property transactions in Uthiramerur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in determining the minimum price at which the property can be registered. This ensures transparency in property transactions and helps in preventing undervaluation.

Frequently asked questions

What is the current guideline value of Mallicheri?

The current guideline value of Mallicheri is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 250 per sq.ft in 2012, then decreased to Rs 167 per sq.ft in 2017, and returned to Rs 250 per sq.ft in 2023 and 2024.

What is the land classification of Mallicheri?

Mallicheri is classified as Residential Class IV Type - III according to the local land classification guidelines.

What is the registration office for Mallicheri?

The registration office for Mallicheri is the Uthiramerur Sub Registrar Office, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone.

How is stamp duty calculated for property in Mallicheri?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000, resulting in a stamp duty of Rs 17,500.