Guideline Value for Mallika Nagar

Mallika Nagar guideline value

The current guideline value of Mallika Nagar, located in Karanaipuducheri village under the Gooduvancheri SRO, is Rs 700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Mallika Nagar has changed

Over the years, the guideline value for Mallika Nagar has seen several revisions. The 2007 revision set the value at Rs 200 per sq.ft, which increased significantly to Rs 700 per sq.ft in the 2012 revision, marking a 250% increase. However, it then decreased to Rs 469 per sq.ft in the 2017 revision, a drop of 33%. The value remained unchanged at Rs 700 per sq.ft in both the 2023 and 2024 revisions, indicating no change over this period.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, there has been a 250% increase in the guideline value for Mallika Nagar.

Guideline values in Karanaipuducheri

In Karanaipuducheri, there are 108 streets under the Gooduvancheri SRO, with 2024 guideline values ranging from Rs 400 to Rs 2,239 per sq.ft. The median value is Rs 802 per sq.ft, making the guideline value of Mallika Nagar below this median.

• Malar Avenue: Rs 700 per sq.ft (2024)
• Mailima Nagar: Rs 800 per sq.ft (2024)
• Mahendravarman Nagar: Rs 800 per sq.ft (2024)
• Mahalakshmi Nagar Extn: Rs 800 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 800 per sq.ft (2024)
• Mathimozhi Enclave: Rs 1,642 per sq.ft (2024)

Stamp duty and registration fee for property in Mallika Nagar

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, while the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mallika Nagar?

The Sub Registrar Office that covers Mallika Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Karanaipuducheri, the guideline value plays a crucial role in determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is recorded accurately.

It is essential for buyers and sellers to be aware of the current guideline value, as it influences the overall cost of property transactions. Understanding the guideline value helps in making informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of Mallika Nagar?

The current guideline value of Mallika Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained unchanged at Rs 700 per sq.ft from 2023 to 2024, while it increased from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2012. The overall change from 2007 to 2024 is an increase of 250%.

What is the land classification of Mallika Nagar?

Mallika Nagar is classified as Residential Class I Type - I, which indicates its suitability for residential development.

What are the guideline values of other streets in Karanaipuducheri?

Other streets in Karanaipuducheri have varying guideline values. For example, Malar Avenue has a guideline value of Rs 700 per sq.ft, while Mailima Nagar and Mahendravarman Nagar are both at Rs 800 per sq.ft.

Where can I find the Sub Registrar Office for Mallika Nagar?

The Sub Registrar Office for Mallika Nagar is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone. You can find more information about your SRO through the provided link.