Guideline Value for RLN Metro Square

RLN Metro Square guideline value

The current guideline value of RLN Metro Square is Rs 1,181 per sq.ft, effective from 1 July 2024. This property is located in Malaipattu village, under the Sunguvarchattram SRO, and is classified as Commercial Class I Type - I.

How the guideline value of RLN Metro Square has changed

Looking at the revisions, the guideline value for RLN Metro Square shows a significant change from Rs 791 per sq.ft in 2017 to Rs 1,181 per sq.ft in 2023 and 2024, marking a 49% increase over that period. The value in 2012 was Rs 1,180 per sq.ft, which indicates a slight decrease to Rs 791 per sq.ft in 2017, followed by a consistent value of Rs 1,181 per sq.ft in the subsequent revisions of 2023 and 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from 2012 to 2024, the guideline value remains unchanged at Rs 1,181 per sq.ft. The transitions between revisions highlight the fluctuations in property values, particularly the notable increase from the 2017 revision to the 2023 and 2024 revisions.

Guideline values in Malaipattu

Malaipattu village has 36 streets under the Sunguvarchattram SRO, with a 2024 guideline value range from Rs 150 to Rs 1,181 per sq.ft. The median value for the village is Rs 200 per sq.ft, placing RLN Metro Square's 2024 figure above that median.

• Renukambal Street: Rs 150 per sq.ft (2024)
• Ramadasss Salai: Rs 250 per sq.ft (2024)
• Periyar Street: Rs 150 per sq.ft (2024)
• Pazhavathamman Nagar: Rs 300 per sq.ft (2024)
• Pavazhathamman Street: Rs 200 per sq.ft (2024)
• SriKumaran Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in RLN Metro Square

For a 1,000 sq.ft plot at the current rate of Rs 1,181 per sq.ft, the guideline value amounts to Rs 11,81,000. The stamp duty at 7% would be Rs 82,670, and the registration fee at 2% would be Rs 23,620, resulting in a total of Rs 1,06,290. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers RLN Metro Square?

The RLN Metro Square falls under the jurisdiction of the Sunguvarchattram Sub Registrar Office located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Malaipattu, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential components of the transaction costs. This ensures that both parties are aware of the financial obligations involved in the transfer of property ownership.

Frequently asked questions

What is the current guideline value of RLN Metro Square?

The current guideline value of RLN Metro Square is Rs 1,181 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen an increase from Rs 791 per sq.ft in 2017 to Rs 1,181 per sq.ft in 2023 and 2024, with a significant change of 49% during this period.

What is the median guideline value in Malaipattu?

The median guideline value in Malaipattu is Rs 200 per sq.ft, with RLN Metro Square's value above this median at Rs 1,181 per sq.ft.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the same value.

Where is the Sub Registrar Office for RLN Metro Square located?

The Sunguvarchattram Sub Registrar Office is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.