Guideline Value for Malliga Avenue

Malliga Avenue guideline value

The current guideline value of Malliga Avenue, located in Madhavaram village under the Madhavaram SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Malliga Avenue has changed

The guideline value for Malliga Avenue has seen significant changes over the years. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, an increase from Rs 2,500 per sq.ft in 2023, marking an 8% rise. Prior to that, the 2017 revision recorded a value of Rs 1,675 per sq.ft, resulting in a substantial 49% increase to the 2023 figure. Overall, from 2017 to 2024, the guideline value has increased by 61%.

It is important to note that there are no registered figures for Malliga Avenue in the years 2002, 2003, 2007, and 2012. This absence of data highlights the significant changes that have occurred in the guideline value since the last recorded figure in 2017.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median of Rs 1,600 per sq.ft. The guideline value of Malliga Avenue is above this median, indicating its relative standing within the village.

• Malliga Garden 1St Street (Ward-07): Rs 2,200 per sq.ft (2024)
• Malliga Garden (Ward-07): Rs 2,200 per sq.ft (2024)
• Mallika Garden: Rs 2,200 per sq.ft (2024)
• Manavalan Avenue (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Manavalan Nagar, Ponniammanmedu (Ward-23): Rs 1,300 per sq.ft (2024)
• Majestic Colony, Ponniammanmedu (Ward-24): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Malliga Avenue

For a property on Malliga Avenue, the guideline value for a 1,000 sq.ft plot is Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Malliga Avenue?

Malliga Avenue falls under the jurisdiction of the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Malliga Avenue?

The current guideline value of Malliga Avenue is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

From 2017 to 2024, the guideline value has increased by 61%, moving from Rs 1,675 per sq.ft to Rs 2,700 per sq.ft.

Are there any years without a guideline value for Malliga Avenue?

Yes, there are no registered figures for Malliga Avenue in the years 2002, 2003, 2007, and 2012.

What is the registration fee for property in Malliga Avenue?

The registration fee for property in Malliga Avenue is calculated at 2% of the guideline value. For example, on a Rs 27,00,000 property, the registration fee would be Rs 54,000.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more details about your SRO through the provided link.