Guideline Value for Malligai Avenue Annex

Malligai Avenue Annex guideline value

The current guideline value of Malligai Avenue Annex is Rs 2,700 per sq.ft, effective from 1 July 2024. This property is located in Kolathur village, under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Malligai Avenue Annex has changed

In the 2007 revision, the guideline value was Rs 1,000 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in both the 2012 and 2023 revisions. However, there was no figure available for the years 2017, 2003, and 2002 for this street. The most recent revision in 2024 saw the guideline value rise to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 170%. The 2012 to 2023 revision showed no change, while the 2007 to 2012 revision experienced a substantial increase of 150%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Malligai Avenue Annex is below this median.

• Malligai Avenue: Rs 4,400 per sq.ft (2024)
• Mallika Avenue Annex: Rs 2,700 per sq.ft (2024)
• Makkaram Thottam 9th Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 8th Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 7th Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 6th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Malligai Avenue Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. 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 Malligai Avenue Annex?

The Sembiam Sub Registrar Office covers Malligai Avenue Annex and is located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal documentation. This ensures that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Malligai Avenue Annex?

The current guideline value of Malligai Avenue Annex is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting a total increase of 170% over the years.

What is the land classification for Malligai Avenue Annex?

The land classification for Malligai Avenue Annex is Residential Class II Type - I.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Malligai Avenue Annex?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000.