Guideline Value for Malligaipoo Nagar

Malligaipoo Nagar guideline value

The current guideline value of Malligaipoo Nagar is Rs 4,900 per sq.ft, effective from 1 July 2024. This area is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this street is Residential Class III Type - II.

How the guideline value of Malligaipoo Nagar has changed

The guideline value for Malligaipoo Nagar has undergone several revisions over the years. The 2007 revision set the value at Rs 1,210 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a rise of 272%. However, the value decreased to Rs 3,015 per sq.ft in 2017, reflecting a drop of 33%. The most recent revision in 2023 saw the value rise to Rs 4,500 per sq.ft, followed by a further increase to Rs 4,900 per sq.ft in 2024, which is a 9% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 305%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, which is the same as the current guideline value for Malligaipoo Nagar.

• Mangai Nagar: Rs 4,900 per sq.ft (2024)
• Mangai Street: Rs 4,900 per sq.ft (2024)
• Manickam Street (Muthurangam Block): Rs 4,100 per sq.ft (2024)
• Manickam Street (W.M): Rs 5,500 per sq.ft (2024)
• Manikkavasagar Street: Rs 4,100 per sq.ft (2024)
• Manimegalai Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Malligaipoo Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, leading to a total cost of Rs 4,41,000. 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 Malligaipoo Nagar?

Malligaipoo Nagar is covered by the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Kodambakkam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware of the current guideline value to ensure they are compliant with the legal requirements.

When a property is registered, the guideline value is considered to ensure that the transaction reflects a fair valuation of the property. This helps in maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Malligaipoo Nagar?

The current guideline value of Malligaipoo Nagar is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 1,210 per sq.ft in 2007, increasing to Rs 4,500 in 2012, dropping to Rs 3,015 in 2017, and finally rising to Rs 4,900 in 2024.

What is the land classification for Malligaipoo Nagar?

Malligaipoo Nagar is classified as Residential Class III Type - II, which indicates its designation for residential use.

Which office handles registration for Malligaipoo Nagar?

The Ashok Nagar Sub Registrar Office handles registration for Malligaipoo Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Malligaipoo Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 at 7%.