Guideline Value for Malliga Nagar 2nd Main Road

Malliga Nagar 2nd Main Road guideline value

The current guideline value of Malliga Nagar 2nd Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - I.

How the guideline value of Malliga Nagar 2nd Main Road has changed

The guideline value for Malliga Nagar 2nd Main Road has seen several revisions over the years. In 2012, the guideline value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. However, this value increased significantly to Rs 3,000 per sq.ft in 2023, and further rose to Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%, but it increased by 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft, with the median being Rs 3,300 per sq.ft. The guideline value of Malliga Nagar 2nd Main Road is equal to this median.

• Malliga Nagar 1st Main Road: Rs 3,300 per sq.ft (2024)
• Mangalapuram: Rs 2,200 per sq.ft (2024)
• Mangalapuram 1st St: Rs 2,200 per sq.ft (2024)
• Mangalapuram 2nd St: Rs 2,200 per sq.ft (2024)
• Manthoppu Street (Brindavan Avenue): Rs 4,400 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Malliga Nagar 2nd Main Road

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Malliga Nagar 2nd Main Road?

The Sub Registrar Office that covers Malliga Nagar 2nd Main Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Tambaram. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue based on the property's value.

When a property is purchased, the guideline value serves as a benchmark for the minimum value at which the property can be registered. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which means it is essential to understand the current guideline value to avoid unexpected costs during the registration process.

Frequently asked questions

What is the current guideline value of Malliga Nagar 2nd Main Road?

The current guideline value of Malliga Nagar 2nd Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the classification of land on Malliga Nagar 2nd Main Road?

Malliga Nagar 2nd Main Road is classified as Residential Class I Type - I.

What are the stamp duty rates applicable?

The stamp duty for property transactions in Tamil Nadu is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Malliga Nagar 2nd Main Road?

The Sub Registrar Office for Malliga Nagar 2nd Main Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.