Guideline Value for MASILAMANI NAGAR EXTENSION

Masilamani Nagar Extension guideline value

The current guideline value of Masilamani Nagar Extension is Rs 1,800 per sq.ft, effective from 1 July 2024. This area is located in Parivakkam village and falls under the Poonamallee SRO. The land classification for this street is Residential Class I Type - II.

How the guideline value of Masilamani Nagar Extension has changed

Reviewing the revisions, the guideline value for Masilamani Nagar Extension has remained consistent at Rs 1,800 per sq.ft since the 2017 revision. The 2024 revision, which is effective from 1 July 2024, maintains this figure, as does the 2023 revision. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2024, the guideline value has shown no change, with a consistent rate of Rs 1,800 per sq.ft across revisions. Similarly, the transition from 2023 to 2024 has also seen no percentage increase, indicating stability in the guideline value during this period.

Guideline values in Parivakkam

In Parivakkam, there are 31 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 6,750 per sq.ft. The median guideline value for these streets is Rs 1,800 per sq.ft, placing Masilamani Nagar Extension at this median value.

• Masilamani Nagar: Rs 1,100 per sq.ft (2024)
• Maruthi Nagar: Rs 660 per sq.ft (2024)
• Navin Avenue: Rs 660 per sq.ft (2024)
• Krishna Nagar Phase VIII: Rs 1,800 per sq.ft (2024)
• Krishna Nagar Phase VII: Rs 1,800 per sq.ft (2024)
• Krishna Nagar Phase VI: Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in Masilamani Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,800 per sq.ft, the total guideline value amounts to Rs 18,00,000. The stamp duty at 7% would be Rs 1,26,000, and the registration fee at 2% would be Rs 36,000, bringing the total fees to Rs 1,62,000. Please note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Masilamani Nagar Extension?

The Sub Registrar Office that covers Masilamani Nagar Extension is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Parivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions comply with the regulations set by the Registration Department.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, thus ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Masilamani Nagar Extension?

The current guideline value of Masilamani Nagar Extension is Rs 1,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Masilamani Nagar Extension has remained at Rs 1,800 per sq.ft since the 2017 revision, with no changes noted in the 2023 and 2024 revisions. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

What is the stamp duty for a property in Masilamani Nagar Extension?

The stamp duty for a property in Masilamani Nagar Extension is calculated at 7% of the guideline value. For example, on a plot valued at Rs 18,00,000, the stamp duty would amount to Rs 1,26,000.

Where can I find the Sub Registrar Office for Masilamani Nagar Extension?

The Sub Registrar Office for Masilamani Nagar Extension is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value of a property, which is essential for calculating stamp duty and registration fees. It ensures that the transaction complies with the regulations set by the Registration Department.