Guideline Value for malligapuram 3rd Street

malligapuram 3rd Street guideline value

The current guideline value of Malligapuram 3rd Street is Rs 350 per sq.ft, effective from 1 July 2024. This street is located in Uthiramerur village, under the Uthiramerur SRO, and is classified as Residential Class IV Type - I.

How the guideline value of malligapuram 3rd Street has changed

The guideline value for Malligapuram 3rd Street has seen several revisions over the years. The earliest available figure is from 2007, where it was set at Rs 100 per sq.ft. This value increased significantly to Rs 350 per sq.ft in 2012, marking a 250% rise. However, it then dropped to Rs 234 per sq.ft in 2017, representing a decrease of 33%. The value remained stable at Rs 350 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years. The register has no figures for the years 2002 and 2003.

To summarize the changes: from 2017 to 2023, the guideline value increased by 50%. Overall, from the 2007 revision to the 2024 revision, there has been a substantial increase of 250%, with the current rate being Rs 350 per sq.ft.

Guideline values in Uthiramerur

In Uthiramerur, there are 180 streets under the Uthiramerur SRO with a 2024 guideline value ranging from Rs 200 to Rs 1,800 per sq.ft. The median guideline value for these streets is Rs 800 per sq.ft, placing Malligapuram 3rd Street's 2024 figure below this median.

• Malligapuram 2nd Street: Rs 350 per sq.ft (2024)
• Malligapuram 4th Street: Rs 350 per sq.ft (2024)
• Malligapuram 1st Street: Rs 350 per sq.ft (2024)
• Malligapuram Suppan Street: Rs 350 per sq.ft (2024)
• Malliyankaranai: Rs 700 per sq.ft (2024)
• Mallicheri: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in malligapuram 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total fees to Rs 31,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers malligapuram 3rd Street?

Malligapuram 3rd Street is covered by the Uthiramerur Sub Registrar Office. The office is located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Uthiramerur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers should be aware that these fees are calculated based on the higher of the guideline value or the sale price.

Understanding the guideline value helps ensure compliance with local regulations and facilitates a smoother transaction process. It is advisable for buyers and sellers to verify the current guideline value before proceeding with any property dealings.

Frequently asked questions

What is the current guideline value of malligapuram 3rd Street?

The current guideline value of Malligapuram 3rd Street is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 350 per sq.ft in 2012, then decreased to Rs 234 per sq.ft in 2017, and remained at Rs 350 per sq.ft in both 2023 and 2024.

What is the land classification for malligapuram 3rd Street?

Malligapuram 3rd Street is classified as Residential Class IV Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 31,500.

Where is the Sub Registrar Office for malligapuram 3rd Street located?

The Uthiramerur Sub Registrar Office is located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone.