Guideline Value for MASILAMANI NAGAR ANNEXE

Masilamani Nagar Annexe guideline value

The current guideline value of Masilamani Nagar Annexe is Rs 1,480 per sq.ft, effective from 1 July 2024. This area is located in Mangadu -A village under the Kunrathur SRO and is classified as Residential Class I Type - IV.

How the guideline value of Masilamani Nagar Annexe has changed

In the 2017 revision, the guideline value was Rs 1,340 per sq.ft. This figure remained unchanged through the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 1,480 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, there has been a 10% increase in the guideline value.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The 2023 revision maintained the guideline value at Rs 1,340 per sq.ft, while the 2024 revision reflected the new value of Rs 1,480 per sq.ft.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,870 per sq.ft, placing Masilamani Nagar Annexe's 2024 figure below that median.

• Masilamani Nagar: Rs 1,870 per sq.ft (2024)
• Maruthy Nagar: Rs 1,870 per sq.ft (2024)
• Maruthy Enclave: Rs 1,870 per sq.ft (2024)
• Mariamman koil Street: Rs 1,980 per sq.ft (2024)
• Meenakshi Nagar: Rs 1,430 per sq.ft (2024)
• Mannarsamy koil Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Masilamani Nagar Annexe

For a 1,000 sq.ft plot at the current guideline value of Rs 1,480 per sq.ft, the total guideline value would be Rs 14,80,000. The stamp duty at 7% would amount to Rs 1,03,600, and the registration fee at 2% would be Rs 29,600, bringing the total cost for these fees to Rs 1,33,200. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Masilamani Nagar Annexe?

The Kunrathur Sub Registrar Office covers Masilamani Nagar Annexe, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value plays a crucial role during the registration of property transactions in Mangadu -A. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value serves as a benchmark that helps in calculating the applicable duties. Buyers and sellers should be aware that the stamp duty is charged based on the higher of the guideline value or the sale price, ensuring that the correct fees are paid during the registration process.

Frequently asked questions

What is the current guideline value of Masilamani Nagar Annexe?

The current guideline value of Masilamani Nagar Annexe is Rs 1,480 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 1,480 per sq.ft in 2024, reflecting a 10% increase. There was no change in the value from 2017 to 2023.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 14,80,000, the stamp duty would be Rs 1,03,600, and the registration fee would be Rs 29,600, totaling Rs 1,33,200. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Masilamani Nagar Annexe?

The Kunrathur Sub Registrar Office handles property registrations for Masilamani Nagar Annexe, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Masilamani Nagar Annexe?

Masilamani Nagar Annexe is classified as Residential Class I Type - IV, indicating its suitability for residential purposes.