Guideline Value for MASILAMANI NAGAR

Masilamani Nagar guideline value

The current guideline value of Masilamani Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Parivakkam village under the Poonamallee SRO, classified as Residential Special Type - I.

How the guideline value of Masilamani Nagar has changed

The guideline value for Masilamani Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,100 per sq.ft, which is an increase of 10% from the 2023 revision, where the value was Rs 1,000 per sq.ft. Prior to 2023, the register has no figure for this street in the years 2017, 2012, 2007, 2003, and 2002.

In summary, the guideline value increased from Rs 1,000 per sq.ft in 2023 to Rs 1,100 per sq.ft in 2024. The earlier revisions do not provide any figures for Masilamani Nagar, indicating that there were no available values recorded for this street during those years.

Guideline values in Parivakkam

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

• Masilamani Nagar Extension: Rs 1,800 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, resulting in a total cost of Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Masilamani Nagar?

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

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

The guideline value is a crucial factor during property registration in Parivakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the current guideline value as it can significantly impact the overall cost of the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Masilamani Nagar?

The current guideline value of Masilamani Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased by 10%, from Rs 1,000 per sq.ft to Rs 1,100 per sq.ft.

What is the land classification of Masilamani Nagar?

Masilamani Nagar is classified as Residential Special Type - I, indicating its designated use for residential purposes.

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

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

How is stamp duty calculated for property in Masilamani Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 77,000 at 7%.