Guideline Value for SRI MALLI NATHAR NAGAR

Sri Malli Nathar Nagar guideline value

The current guideline value of Sri Malli Nathar Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Athur A Block village, under the Chengleput Joint II SRO, and is classified as Mixed Type - I land.

How the guideline value of Sri Malli Nathar Nagar has changed

Since the 2007 revision, the guideline value for Sri Malli Nathar Nagar has seen significant changes. In 2007, the guideline value was Rs 60 per sq.ft. It increased dramatically to Rs 600 per sq.ft in the 2012 revision, marking a 900% rise. However, from 2012 to 2017, the value decreased to Rs 402 per sq.ft, a decline of 33%. The guideline value then increased to Rs 600 per sq.ft in the 2023 revision, remaining unchanged in the 2024 revision.

For the years 2002 and 2003, the register has no figure for this street. The 2023 revision maintained the value at Rs 600 per sq.ft, resulting in a 0% change from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 900%.

Guideline values in Athur A Block

Athur A Block consists of 44 streets under the Chengleput Joint II SRO, with a 2024 guideline value range from Rs 300 to Rs 1,525 per sq.ft. The median guideline value is Rs 600 per sq.ft, placing Sri Malli Nathar Nagar at this median value.

• Sri Nagar: Rs 400 per sq.ft (2024)
• Srinivasa Avenue: Rs 500 per sq.ft (2024)
• Sri Ragavandira Nagar: Rs 600 per sq.ft (2024)
• Sri Ram Nagar: Rs 800 per sq.ft (2024)
• Sri Ranga Nagar: Rs 1,525 per sq.ft (2024)
• Sri Balaji Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Malli Nathar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, resulting in a total of Rs 54,000. 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 accurate calculations.

Which Sub Registrar Office covers Sri Malli Nathar Nagar?

The Sub Registrar Office covering Sri Malli Nathar Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Athur A Block

The guideline value is a critical factor during property registration in Athur A Block. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. Buyers should be aware of the guideline value to ensure compliance with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Sri Malli Nathar Nagar?

The current guideline value of Sri Malli Nathar Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 60 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, then decreasing to Rs 402 per sq.ft in 2017, and returning to Rs 600 per sq.ft in 2023 and 2024.

What is the land classification of Sri Malli Nathar Nagar?

Sri Malli Nathar Nagar is classified as Mixed Type - I land, which indicates a blend of residential and commercial usage in the area.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Tamil Nadu.

How is stamp duty calculated for properties in Sri Malli Nathar Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,00,000, the stamp duty at 7% would be Rs 42,000.