Guideline Value for MASILA MANI NAGAR

Masila Mani Nagar guideline value

The current guideline value of Masila Mani Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Venmanamputhur village, under the Tiruvallur Joint 1 SRO, and is classified as Residential Class II Type - II.

How the guideline value of Masila Mani Nagar has changed

The guideline value for Masila Mani Nagar has undergone several revisions over the years. In 2012, the guideline value was set at Rs 200 per sq.ft, which remained unchanged until the next revision in 2017, where it decreased to Rs 134 per sq.ft. This was a reduction of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 200 per sq.ft. The 2023 revision maintained this figure, and the current 2024 revision also stands at Rs 200 per sq.ft, reflecting no change from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 200 per sq.ft.

Guideline values in Venmanamputhur

In Venmanamputhur, there are 54 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 400 per sq.ft. The median value is Rs 200 per sq.ft, which is equal to the current figure for Masila Mani Nagar.

• M.E. Nagar (S.No.179/1.2): Rs 200 per sq.ft (2024)
• Manickam Nagar: Rs 200 per sq.ft (2024)
• Mahatma Gandhi Nagar: Rs 200 per sq.ft (2024)
• Lakshi Amman Nagar: Rs 250 per sq.ft (2024)
• K.G.R. Nagar & Annex-(S.No.392.377/2): Rs 200 per sq.ft (2024)
• K.G.R. Aavin Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Masila Mani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Masila Mani Nagar?

The Sub Registrar Office that covers Masila Mani Nagar is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Venmanamputhur. It serves as a reference point to determine the minimum value at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal documentation. Buyers must be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Masila Mani Nagar?

The current guideline value of Masila Mani Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent changes showing a return to Rs 200 per sq.ft since 2012, despite fluctuations in previous years.

What is the land classification for Masila Mani Nagar?

Masila Mani Nagar is classified as Residential Class II Type - II under the relevant regulations.

Where can I find the Sub Registrar Office for Masila Mani Nagar?

The Tiruvallur Joint 1 Sub Registrar Office is located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 200 per sq.ft results in total fees of Rs 18,000.