Guideline Value for Jaffer lane Masthan lane

Jaffer lane Masthan lane guideline value

The current guideline value for Jaffer lane Masthan lane is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village under the Chennai North Joint I SRO, classified as Residential Class I Type - III.

How the guideline value of Jaffer lane Masthan lane has changed

The guideline value for Jaffer lane Masthan lane has seen several revisions over the years. The 2007 revision set the value at Rs 1,500 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a 200% rise. However, it then dropped to Rs 3,015 per sq.ft in 2017, a decrease of 33%. The value rose again to Rs 4,500 per sq.ft in 2023 and has now reached Rs 4,900 per sq.ft in the 2024 revision, reflecting a 9% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 figure, there has been a total increase of 227%. There are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Muthialpet

In Muthialpet village, there are 160 streets under the Chennai North Joint I SRO with a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, placing Jaffer lane Masthan lane's current value below this median.

• Jaffar Sarang street: Rs 14,800 per sq.ft (2024)
• Jaffar Sarang lane: Rs 7,700 per sq.ft (2024)
• Jahangir lane*: Rs 15,900 per sq.ft (2024)
• Jahangir street[2nd line Beech]: Rs 15,900 per sq.ft (2024)
• Javer Street(Gopal Chetty Street): Rs 4,900 per sq.ft (2024)
• Ibrahim Salai 2nd lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Jaffer lane Masthan lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, totaling Rs 4,41,000. 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jaffer lane Masthan lane?

The Sub Registrar Office that covers Jaffer lane Masthan lane is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Muthialpet. It determines the minimum value at which a property can be registered, and it is used to calculate the applicable stamp duty and registration fees.

When a property is sold, the sale price and the guideline value are compared, and the duty is charged on the higher of the two. This ensures that the registration reflects the true value of the property as per the government standards.

Frequently asked questions

What is the current guideline value for Jaffer lane Masthan lane?

The current guideline value for Jaffer lane Masthan lane is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,500 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, with various increases and decreases in between.

What is the stamp duty rate for properties in Jaffer lane Masthan lane?

The stamp duty rate for properties in Jaffer lane Masthan lane is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Jaffer lane Masthan lane?

The Sub Registrar Office for Jaffer lane Masthan lane is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105.

What is the land classification for Jaffer lane Masthan lane?

Jaffer lane Masthan lane is classified as Residential Class I Type - III under the Chennai North Joint I SRO.