Guideline Value for Malligaipoo Nagar

Malligaipoo Nagar guideline value

The current guideline value of Malligaipoo Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Sembiam village, under the Sembiam SRO. The land classification for this location is Residential Class I Type - I.

How the guideline value of Malligaipoo Nagar has changed

The guideline value for Malligaipoo Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 341 per sq.ft, which increased to Rs 370 per sq.ft in 2003. Following this, the value rose significantly to Rs 700 per sq.ft in 2007, and then to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017. The value saw a notable increase to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft as of the 2024 revision.

Between the revisions, the changes were as follows: from 2002 to 2003, the increase was +9%; from 2003 to 2007, it rose by +89%; from 2007 to 2012, there was a significant decrease of -33%; from 2012 to 2017, it dropped to Rs 1,675 per sq.ft. However, from 2017 to 2023, the value increased by +49%, and from 2023 to 2024, there was an increase of +8%. Overall, from 2002 to 2024, the guideline value has risen by +692%.

Guideline values in Sembiam

In Sembiam village, there are 250 streets under the Sembiam SRO, with guideline values for 2024 ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, making Malligaipoo Nagar's current value equal to this median.

• Mahadeva Mudali 3rd Street: Rs 3,500 per sq.ft (2024)
• Mahadeva Mudali 2nd Street: Rs 3,500 per sq.ft (2024)
• Mahadeva Mudali 1st Street: Rs 3,500 per sq.ft (2024)
• Maduraisamy Main Road: Rs 3,500 per sq.ft (2024)
• Maduraisamy Madam V.O.C. Nagar: Rs 3,500 per sq.ft (2024)
• Maduraisamy Madam East Street: Rs 3,500 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 2,700 per sq.ft, the total guideline value would be 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, bringing the total to 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.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Malligaipoo Nagar?

Malligaipoo Nagar falls under the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Sembiam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When you buy or sell property, the guideline value is used to calculate the applicable taxes, ensuring that both parties are aware of the financial obligations involved in the transaction. It is essential to refer to the latest guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Malligaipoo Nagar?

The current guideline value of Malligaipoo Nagar 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 significantly from Rs 341 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of +692% over the years.

What is the land classification for Malligaipoo Nagar?

Malligaipoo Nagar is classified as Residential Class I Type - I, indicating its designation for residential purposes.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles the registration of properties in the area.

How is stamp duty calculated in Malligaipoo Nagar?

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