Guideline Value for Malligaipoo Nagar Slum

Malligaipoo Nagar Slum guideline value

The current guideline value for Malligaipoo Nagar Slum is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Kottur village, under the Adayar SRO, and is classified as Residential Class V Type - III.

How the guideline value of Malligaipoo Nagar Slum has changed

The guideline value for Malligaipoo Nagar Slum has undergone several revisions over the years. The 2007 revision set the value at Rs 1,500 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 100% rise. However, the value then decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase to Rs 3,000 per sq.ft in 2023, and further increased by 10% to the current rate of Rs 3,300 per sq.ft in 2024.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. The overall increase from the 2007 revision to the current 2024 figure is 120%.

Guideline values in Kottur

In Kottur, there are 114 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft, with a median value of Rs 6,100 per sq.ft. The guideline value for Malligaipoo Nagar Slum is below this median.

• Mannappan Street: Rs 3,300 per sq.ft (2024)
• Kulakkarai Road: Rs 5,000 per sq.ft (2024)
• Krishnamachari Avenue: Rs 9,400 per sq.ft (2024)
• Kottur Garden 4th Main Road: Rs 9,400 per sq.ft (2024)
• Kottur Garden 3rd Main Road: Rs 9,400 per sq.ft (2024)
• Kottur Garden 2nd Main Road: Rs 9,400 per sq.ft (2024)

Stamp duty and registration fee for property in Malligaipoo Nagar Slum

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Malligaipoo Nagar Slum?

The Sub Registrar Office that covers Malligaipoo Nagar Slum is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kottur. It serves as a benchmark for determining the minimum value of the property for the purpose of calculating stamp duty and registration fees.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Malligaipoo Nagar Slum?

The current guideline value of Malligaipoo Nagar Slum is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing a total increase of 120% over the years.

What are the other streets in Kottur and their guideline values?

Other streets in Kottur include Mannappan Street at Rs 3,300 per sq.ft, Kulakkarai Road at Rs 5,000 per sq.ft, and several streets in Kottur Garden at Rs 9,400 per sq.ft.

What fees are associated with buying property in Malligaipoo Nagar Slum?

When buying property in Malligaipoo Nagar Slum, buyers should consider stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Malligaipoo Nagar Slum?

The Sub Registrar Office for Malligaipoo Nagar Slum is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.