Guideline Value for Malligapuram 1st Street

Malligapuram 1st Street guideline value

The current guideline value of Malligapuram 1st Street is Rs 350 per sq.ft as per the 2024 revision, effective from 1 July 2024. This street is located in Uthiramerur village, under the Uthiramerur SRO, classified as Residential Class IV Type - I.

How the guideline value of Malligapuram 1st Street has changed

The guideline value for Malligapuram 1st Street has seen several revisions over the years. The 2007 revision set the value at Rs 100 per sq.ft, which increased significantly to Rs 350 per sq.ft in 2012. However, the value dropped to Rs 234 per sq.ft in 2017, before rising again to Rs 350 per sq.ft in both 2023 and 2024, indicating no change between these two revisions.

From 2017 to 2023, there was a notable increase of 50%. The value from 2012 to 2017 experienced a decrease of 33%. The most significant change occurred from 2007 to 2012, where the guideline value increased by 250%. Overall, from 2007 to 2024, the guideline value has increased by 250%.

Guideline values in Uthiramerur

In Uthiramerur, there are 180 streets under the Uthiramerur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,800 per sq.ft, with a median value of Rs 800 per sq.ft. The guideline value of Malligapuram 1st Street is below this median.

• Malligapuram 2nd Street: Rs 350 per sq.ft (2024)
• Malligapuram 3rd Street: Rs 350 per sq.ft (2024)
• Malligapuram 4th Street: Rs 350 per sq.ft (2024)
• Malligapuram Suppan Street: Rs 350 per sq.ft (2024)
• Malliyankaranai: Rs 700 per sq.ft (2024)
• Mallicheri: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Malligapuram 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value would be Rs 3,50,000. The stamp duty at 7% would amount to Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total charges to Rs 31,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Malligapuram 1st Street?

The Sub Registrar Office that covers Malligapuram 1st Street is the Uthiramerur Sub Registrar Office, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Uthiramerur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold, the guideline value is compared to the sale price, and the duty is charged on whichever amount is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Malligapuram 1st Street?

The current guideline value of Malligapuram 1st Street is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 100 per sq.ft in 2007 to Rs 350 per sq.ft in 2012, dropping to Rs 234 per sq.ft in 2017, and then remaining at Rs 350 per sq.ft in both 2023 and 2024.

What is the land classification for Malligapuram 1st Street?

Malligapuram 1st Street is classified as Residential Class IV Type - I, indicating its suitability for residential development.

What are the registration fees for properties in this area?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Malligapuram 1st Street?

The Uthiramerur Sub Registrar Office, which covers Malligapuram 1st Street, is located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone.