Guideline Value for Malliga Garden (Ward-07)

Malliga Garden (Ward-07) guideline value

The current guideline value of Malliga Garden (Ward-07) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Malliga Garden (Ward-07) has changed

The guideline value for Malliga Garden has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and then to the current rate of Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value rose by 49%. Overall, from 2012 to 2024, there has been a 10% increase. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing Malliga Garden's 2024 figure above this median.

• Malliga Garden 1St Street (Ward-07): Rs 2,200 per sq.ft (2024)
• Malliga Avenue: Rs 2,700 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 Garden (Ward-07)

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, and the registration fee at 2% would be Rs 44,000, totaling 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.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Malliga Garden (Ward-07)?

The Sub Registrar Office that covers Malliga Garden (Ward-07) is 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 is a crucial factor when buying or selling property in Madhavaram. It serves as a benchmark for determining the registration fees and stamp duty applicable during the transaction process.

When registering a property, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and complies with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Malliga Garden (Ward-07)?

The current guideline value of Malliga Garden (Ward-07) 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 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft in 2024.

What is the land classification of Malliga Garden?

Malliga Garden is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Malliga Garden?

The Sub Registrar Office for Malliga Garden (Ward-07) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated in Malliga Garden?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, at the current guideline value, the stamp duty for a 1,000 sq.ft plot would be Rs 1,54,000.