Guideline Value for INDIRA NAGAR MASUTHI STREET

Indira Nagar Masuthi Street guideline value

The current guideline value of Indira Nagar Masuthi Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Perumbakkam village, under the Selaiyur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Indira Nagar Masuthi Street has changed

The guideline value for Indira Nagar Masuthi Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in 2017. Following this, the value increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in the 2024 revision, marking a 7% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. However, the change from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 7%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,725 per sq.ft, indicating that the guideline value of Indira Nagar Masuthi Street is below this median.

• Indira Nagar Main Road: Rs 1,600 per sq.ft (2024)
• Indira Nagar Mahendiravarman Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar M.G.R. Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Narashimman Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Oodai Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Iraniyavarman Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar Masuthi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Indira Nagar Masuthi Street?

The Indira Nagar Masuthi Street is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Perumbakkam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in property dealings. It is essential for buyers and sellers to be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value for Indira Nagar Masuthi Street?

The current guideline value for Indira Nagar Masuthi Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024. This shows a fluctuation in values over the years.

What is the median guideline value for streets in Perumbakkam?

The median guideline value for streets in Perumbakkam is Rs 2,725 per sq.ft, which indicates that the guideline value of Indira Nagar Masuthi Street is below this median.

What are the stamp duty and registration fees for property in Indira Nagar Masuthi Street?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Indira Nagar Masuthi Street?

The Selaiyur Sub Registrar Office handles registrations for Indira Nagar Masuthi Street. It is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.