Guideline Value

Corporate

Guideline Value for Mallika Nagar

₹990/sq.ft.

The guideline value for Mallika Nagar in Nandambakkam village (Padappai SRO, Chennai zone) is Rs 990 per sq.ft, effective 1 July 2024. It was Rs 900 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Special Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nandambakkam

Village

Padappai

SRO

Residential Special Type - I
History
Period Guideline Value
From 1-7-2024 ₹990 /sq.ft.
From 1-4-2023 ₹900 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹603 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹900 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹50 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

3/158, Pushpagiri Main Rd, Padappai - 601 301.
044-27174392
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Mallika Nagar

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Mallika Nagar guideline value

The current guideline value of Mallika Nagar, located in Nandambakkam village under the Padappai SRO, is Rs 990 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Mallika Nagar has changed

The guideline value for Mallika Nagar has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 50 per sq.ft, which saw a significant increase to Rs 900 per sq.ft in 2012. However, this value decreased to Rs 603 per sq.ft in the 2017 revision. The 2023 revision brought the value up to Rs 900 per sq.ft, and the most recent 2024 revision has increased it further to Rs 990 per sq.ft. The register has no figure for this street in 2002 and 2003.

Between the revisions, there have been notable changes. From 2007 to 2012, the value increased by 1700%, followed by a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and the most recent increase from 2023 to 2024 is 10%. Overall, from 2007 to 2024, the guideline value has increased by 1880%.

Guideline values in Nandambakkam

Nandambakkam village has a range of guideline values across its 94 streets under the Padappai SRO, with values ranging from Rs 440 to Rs 2,300 per sq.ft. The median guideline value for the area is Rs 880 per sq.ft, placing Mallika Nagar's 2024 figure above this median.

Stamp duty and registration fee for property in Mallika Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost for these fees to Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mallika Nagar?

The Sub Registrar Office that covers Mallika Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Nandambakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Additionally, the guideline value serves as a benchmark for property valuation in the area. It helps in establishing a fair price for properties based on the prevailing rates set by the Registration Department. This system aids in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Mallika Nagar?

The current guideline value of Mallika Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, reflecting an overall increase of 1880% over this period.

What is the land classification for Mallika Nagar?

The land classification for Mallika Nagar is Residential Special Type - I.

Where can I find the registration office for Mallika Nagar?

The registration office for Mallika Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Mallika Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 at 7%.