Guideline Value for MASILAMANI MUDALI STREET

Masilamani Mudali Street guideline value

The current guideline value of Masilamani Mudali Street is Rs 8,800 per sq.ft. This street is located in Mylapore village, under the Mylapore SRO, and falls under the Residential Class III Type - III land classification.

How the guideline value of Masilamani Mudali Street has changed

Over the years, the guideline value of Masilamani Mudali Street has seen several revisions. The earliest recorded figure is from 2002, which was Rs 1,294 per sq.ft. This value increased to Rs 1,438 per sq.ft in 2003, marking a rise of 11%. In 2007, the guideline value jumped significantly to Rs 1,540 per sq.ft, reflecting a 7% increase. The value then surged to Rs 8,000 per sq.ft in 2012, a notable increase of 419%. However, in 2017, it decreased to Rs 5,360 per sq.ft, which was a decline of 33%. The next revision in 2023 set the value at Rs 8,000 per sq.ft, followed by the current value of Rs 8,800 per sq.ft effective from 1 July 2024, indicating a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2002 to 2024, the guideline value has risen by 580%. There are no recorded figures for the revisions of years not mentioned in this register for Masilamani Mudali Street.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, which is equal to the current value of Masilamani Mudali Street.

• Masilamani Colony Street: Rs 8,800 per sq.ft (2024)
• Marvadi Thottam: Rs 6,000 per sq.ft (2024)
• Mathala Narayanan Lane: Rs 9,300 per sq.ft (2024)
• Mathala Narayanan Street: Rs 11,500 per sq.ft (2024)
• Mavadi Vinayagar Koil Street: Rs 7,100 per sq.ft (2024)
• Mayandi Colony 1st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Masilamani Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Masilamani Mudali Street?

The Sub Registrar Office that covers Masilamani Mudali Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mylapore. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that both parties are aware of the financial implications involved in the transaction.

When a property is registered, the guideline value is used to determine the applicable charges. Buyers should be mindful that the stamp duty is calculated based on the higher value between the guideline value and the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Masilamani Mudali Street?

The current guideline value of Masilamani Mudali Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,294 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 580% over the years.

What is the land classification for Masilamani Mudali Street?

Masilamani Mudali Street falls under the Residential Class III Type - III land classification.

Where can I find the Mylapore Sub Registrar Office?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How is stamp duty calculated for properties in Mylapore?

Stamp duty in Mylapore is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 88,00,000, the stamp duty would be calculated accordingly.