Guideline Value for Kora Masilamani Street

Kora Masilamani Street guideline value

The current guideline value of Kora Masilamani Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village under the Pammal SRO, classified as Residential Class III Type - I.

How the guideline value of Kora Masilamani Street has changed

The guideline value for Kora Masilamani Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft, which reflects a 10% increase from Rs 1,200 per sq.ft in the 2023 revision. Prior to that, the 2017 revision recorded a value of Rs 804 per sq.ft, indicating a substantial 49% increase from that year to 2023.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012. Overall, from 2017 to 2024, the guideline value has increased by 64%, showcasing significant changes over the years.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value for these streets is Rs 2,420 per sq.ft, placing Kora Masilamani Street below this median.

• Krishnan Koil Street: Rs 2,200 per sq.ft (2024)
• Kattabooman Street: Rs 2,420 per sq.ft (2024)
• Kulakarai 1st Cross Street: Rs 2,420 per sq.ft (2024)
• Kulakarai 2nd Cross Street: Rs 2,420 per sq.ft (2024)
• Kulakarai 3rd Cross Street: Rs 2,420 per sq.ft (2024)
• Kulakarai 4th Cross Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Kora Masilamani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kora Masilamani Street?

The Sub Registrar Office covering Kora Masilamani Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Thiruneermalai

The guideline value plays a crucial role during the registration of property transactions in Thiruneermalai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is often referred to for calculating the applicable fees. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kora Masilamani Street?

The current guideline value of Kora Masilamani Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 804 per sq.ft in 2017 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 64% over these years.

What is the median guideline value in Thiruneermalai?

The median guideline value for streets in Thiruneermalai is Rs 2,420 per sq.ft, which is higher than the current value of Kora Masilamani Street.

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

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value or sale price.

Where can I find the Sub Registrar Office for Kora Masilamani Street?

The Sub Registrar Office for Kora Masilamani Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.