Guideline Value for Malliga Nagar

Malliga Nagar guideline value

The current guideline value of Malliga Nagar, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 2,160 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class III Type - I land classification.

How the guideline value of Malliga Nagar has changed

Over the years, the guideline value for Malliga Nagar has seen several revisions. Starting from the 2003 revision, the value was Rs 218 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2007, marking a change of +175%. The value then rose to Rs 2,000 per sq.ft in 2012, which was a substantial increase of +233%. However, between 2012 and 2017, the value decreased to Rs 1,340 per sq.ft, reflecting a decline of -33%. The guideline value then surged to Rs 2,000 per sq.ft in 2023, an increase of +49%, and has now reached Rs 2,160 per sq.ft in the 2024 revision, which is an increase of +8% from the previous year.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by +891%.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with the 2024 guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing the 2024 figure for Malliga Nagar below this median.

• Malliga Street: Rs 2,160 per sq.ft (2024)
• Malick Street: Rs 2,750 per sq.ft (2024)
• Malanganathapuram 9th Street: Rs 3,300 per sq.ft (2024)
• Malanganandapuram 8th Street: Rs 3,300 per sq.ft (2024)
• Malanganandapuram 7th Street: Rs 3,300 per sq.ft (2024)
• Malanganandapuram 6th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Malliga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value amounts to Rs 21,60,000. The stamp duty at 7% would be Rs 1,51,200, while the registration fee at 2% would be Rs 43,200. Together, the total cost for stamp duty and registration fee would be Rs 1,94,400. 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Malliga Nagar?

The Sub Registrar Office that covers Malliga Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Zaminpallavaram. It serves as the basis for calculating the stamp duty and registration fees during the registration process. Buyers and sellers must refer to the current guideline value to ensure compliance with local regulations.

When a property transaction occurs, the guideline value helps determine the minimum value at which a property can be registered. This ensures that both the buyer and seller are aware of the financial implications associated with the transaction.

Frequently asked questions

What is the current guideline value of Malliga Nagar?

The current guideline value of Malliga Nagar is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 218 per sq.ft in 2003 to Rs 2,160 per sq.ft in 2024, reflecting an overall increase of +891% over the years.

What is the land classification of Malliga Nagar?

Malliga Nagar falls under the Residential Class III Type - I land classification.

What are the stamp duty and registration fees for property in Malliga Nagar?

For a property valued at Rs 21,60,000, the stamp duty would be Rs 1,51,200 and the registration fee would be Rs 43,200, totaling Rs 1,94,400.

Which office handles registrations for Malliga Nagar?

The Pallavaram Sub Registrar Office handles registrations for Malliga Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.