Guideline Value for Malliga Nagar

Malliga Nagar guideline value

The current guideline value of Malliga Nagar, located in Kovilpathagai village under the Ambattur SRO, is Rs 990 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - II land classification.

How the guideline value of Malliga Nagar has changed

The guideline value of Malliga Nagar has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 900 per sq.ft. This figure decreased to Rs 603 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 900 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 990 per sq.ft, reflecting a rise of 10% from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with guideline values in 2024 ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for the village is Rs 870 per sq.ft, placing Malliga Nagar's 2024 figure above this median.

• Mamathu Street: Rs 805 per sq.ft (2024)
• Mangalam Nagar: Rs 803 per sq.ft (2024)
• Mahalakshmi Street (Ashok Nagar): Rs 880 per sq.ft (2024)
• Manoharan Street: Rs 880 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 803 per sq.ft (2024)
• Magesh Nagar: Rs 803 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 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty is calculated at 7%, which is Rs 69,300, and the registration fee at 2% amounts to Rs 19,800. Together, these fees total Rs 89,100. 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 Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kovilpathagai. It serves as a benchmark to determine the minimum value at which a property can be registered, ensuring transparency and fairness in property transactions.

During the registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Malliga Nagar?

The current guideline value of Malliga Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, increasing from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then rising again to Rs 900 per sq.ft in 2023, and finally reaching Rs 990 per sq.ft in 2024.

What is the median guideline value for Kovilpathagai?

The median guideline value for Kovilpathagai village is Rs 870 per sq.ft, with Malliga Nagar's current value above this median.

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

For a property valued at Rs 9,90,000, the stamp duty is Rs 69,300 and the registration fee is Rs 19,800, totaling Rs 89,100.

Which office handles registrations for Malliga Nagar?

The Ambattur Sub Registrar Office handles registrations for Malliga Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.