Guideline Value for Malligapuram 2nd Street

Malligapuram 2nd Street guideline value

The current guideline value of Malligapuram 2nd 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, and is classified as Residential Class IV Type - I.

How the guideline value of Malligapuram 2nd Street has changed

The guideline value for Malligapuram 2nd Street has seen several revisions over the years. In 2007, the value was Rs 100 per sq.ft, which increased significantly to Rs 350 per sq.ft in 2012. However, it dropped to Rs 234 per sq.ft in 2017, before remaining stable at Rs 350 per sq.ft in both the 2023 and 2024 revisions. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From the 2017 revision to the 2023 revision, the guideline value increased by 50%. The value remained unchanged from 2023 to 2024, indicating a 0% change. Overall, from the 2007 revision to the 2024 revision, 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. Malligapuram 2nd Street's 2024 guideline value is below this median.

• Malligapuram 1st 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 2nd Street

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

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

Which Sub Registrar Office covers Malligapuram 2nd Street?

The Sub Registrar Office that covers Malligapuram 2nd 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 details.

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

The guideline value is a crucial factor in property transactions in Uthiramerur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

At the time of registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Malligapuram 2nd Street?

The current guideline value of Malligapuram 2nd 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 from Rs 100 per sq.ft in 2007 to Rs 350 per sq.ft in 2012, then decreased to Rs 234 per sq.ft in 2017, and remained at Rs 350 per sq.ft in both 2023 and 2024.

What is the median guideline value in Uthiramerur?

The median guideline value in Uthiramerur is Rs 800 per sq.ft, while Malligapuram 2nd Street's value is below this median at Rs 350 per sq.ft.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Malligapuram 2nd Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Uthiramerur Sub Registrar Office?

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