Guideline Value for SRI MALLI NAGAR

Sri Malli Nagar guideline value

The current guideline value of Sri Malli Nagar is Rs 220 per sq.ft, effective from 1 July 2024. This area is located in Vallur village and falls under the Thiruvottiyur SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Sri Malli Nagar has changed

In the 2017 revision, the guideline value was Rs 134 per sq.ft. This figure increased significantly to Rs 200 per sq.ft in the 2023 revision, marking a change of 49%. The most recent revision in 2024 saw the guideline value rise to Rs 220 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for Sri Malli Nagar.

Guideline values in Vallur

In Vallur, there are 75 streets under the Thiruvottiyur SRO that have a 2024 guideline value ranging from Rs 220 to Rs 551 per sq.ft, with the median being Rs 220 per sq.ft. The guideline value for Sri Malli Nagar is equal to this median.

• Sri Mahalakshmi Nagar: Rs 220 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 550 per sq.ft (2024)
• Sri Lakshmi Avenue: Rs 550 per sq.ft (2024)
• Sri Ganesh Garden: Rs 220 per sq.ft (2024)
• Sri Balaji Nagar: Rs 220 per sq.ft (2024)
• Sri Sakthi Sairam Nagar: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Malli Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 220 per sq.ft, the total guideline value amounts to Rs 2,20,000. The stamp duty at 7% would be Rs 15,400, and the registration fee at 2% would be Rs 4,400, bringing the total fees together to Rs 19,800. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Malli Nagar?

Sri Malli Nagar falls under the Thiruvottiyur Sub Registrar Office located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Vallur, as it determines the minimum value at which a property can be registered. When a buyer and seller agree on a sale price, the registration office will charge stamp duty and registration fees based on the higher of the guideline value or the sale price.

This ensures that the government collects appropriate revenue from property transactions. Buyers should be aware of the guideline value to estimate their costs accurately before proceeding with a transaction.

Frequently asked questions

What is the current guideline value of Sri Malli Nagar?

The current guideline value of Sri Malli Nagar is Rs 220 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2017 revision to the 2024 revision, the guideline value has increased by 64%, from Rs 134 per sq.ft to Rs 220 per sq.ft.

What is the land classification for Sri Malli Nagar?

Sri Malli Nagar is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Sri Malli Nagar?

The Sub Registrar Office covering Sri Malli Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the stamp duty calculated for property in Sri Malli Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would amount to Rs 15,400.