Guideline Value for Malligai Street Brindavan Nagar

Malligai Street Brindavan Nagar guideline value

The current guideline value of Malligai Street Brindavan Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Koyakbedu village and falls under the AnnaNagar SRO, classified as Residential Class I Type - II.

How the guideline value of Malligai Street Brindavan Nagar has changed

The guideline value for Malligai Street Brindavan Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 1,500 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012. This was a significant rise of 167%. However, the value then decreased to Rs 2,680 per sq.ft in 2017, marking a decline of 33%. Following this, the value saw a substantial increase to Rs 4,000 per sq.ft in 2023, and then to Rs 4,400 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 193%. The revisions for the years 2002 and 2003 do not have any figures recorded for this street.

Guideline values in Koyakbedu

Koyakbedu village has a total of 270 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which matches the current value for Malligai Street Brindavan Nagar.

• Mangammal Colony: Rs 3,300 per sq.ft (2024)
• Mahalingam Street: Rs 3,300 per sq.ft (2024)
• Mannady Street: Rs 3,300 per sq.ft (2024)
• Maghilambu Street Brindavan Nagar: Rs 4,400 per sq.ft (2024)
• L bLOCK (WEST)-4TH AVENUE 171 TO 192,KURUNJI COLONY,MULLAI COLONY,NALANDHA FLATS,SINDU FLATS: Rs 15,900 per sq.ft (2024)
• Lalbhahadur Sastry Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Malligai Street Brindavan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can calculate your potential fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Malligai Street Brindavan Nagar?

The Sub Registrar Office that covers Malligai Street Brindavan Nagar is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO online.

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

The guideline value is a crucial factor in property transactions, as it determines the stamp duty and registration fees payable during the registration process. Buyers and sellers must be aware that the guideline value is set by the government and is subject to periodic revisions, which can affect the costs associated with property transactions.

When a property is sold, the registration office will assess the guideline value to calculate the applicable fees. It is essential for both parties to understand that the higher value between the guideline and the sale price will be used for calculating the stamp duty.

Frequently asked questions

What is the current guideline value of Malligai Street Brindavan Nagar?

The current guideline value of Malligai Street Brindavan Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 193% over the years.

What is the stamp duty rate for properties in Malligai Street Brindavan Nagar?

The stamp duty rate for properties in Malligai Street Brindavan Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Malligai Street Brindavan Nagar located?

The Sub Registrar Office for Malligai Street Brindavan Nagar is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the guideline values for other streets in Koyakbedu?

Other streets in Koyakbedu have varying guideline values, with some streets like Mangammal Colony, Mahalingam Street, and Mannady Street valued at Rs 3,300 per sq.ft, while L bLOCK (WEST)-4TH AVENUE is valued at Rs 15,900 per sq.ft.