Guideline Value for Malliga Street

Malliga Street guideline value

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

How the guideline value of Malliga Street has changed

The guideline value for Malliga Street has seen several revisions over the years. The earliest recorded figure is Rs 181 per sq.ft from the 2003 revision, which increased significantly to Rs 600 per sq.ft in 2007, marking a change of +231%. By 2012, the value rose to Rs 2,000 per sq.ft, reflecting an increase of +233% from the previous revision. However, there are no recorded figures for the years 2002, 2017, and 2023.

As of the 2024 revision, the guideline value stands at Rs 2,160 per sq.ft, which is an increase of +8% from the 2012 figure. Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by +1093%.

Guideline values in Zaminpallavaram

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

• Malliga Nagar: 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 Street

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, and the registration fee at 2% would be Rs 43,200, making the total fees 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Malliga Street?

Malliga Street is covered by 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 information.

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

The guideline value is a crucial reference point when registering properties in Zaminpallavaram. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is documented according to the prevailing rates set by the Registration Department.

When buying or selling property, the guideline value helps determine the legal and financial obligations involved in the transaction. It is essential for both buyers and sellers to be aware of these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Malliga Street?

The current guideline value of Malliga Street 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 from Rs 181 per sq.ft in 2003 to Rs 2,160 per sq.ft in 2024, marking an overall increase of +1093%.

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

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 property registrations for Malliga Street?

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

What is the land classification of Malliga Street?

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