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 Matthur village under the Thiruvottiyur SRO, classified as Residential Special Type - III.

How the guideline value of Masilamani Nagar has changed

The guideline value for Masilamani Nagar has undergone several revisions over the years. In 2002, the value was Rs 55 per sq.ft, which increased to Rs 66 per sq.ft in 2003, marking a 20% rise. The value then saw a significant jump to Rs 100 per sq.ft in 2007, representing a 52% increase. By 2012, the value was Rs 1,000 per sq.ft, reflecting a substantial 900% increase from the previous revision. However, it decreased to Rs 670 per sq.ft in 2017, showing a decline of 33% before rising again to Rs 1,000 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 1,100 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,900%. The register has no figures for the years not mentioned in this summary.

Guideline values in Matthur

In Matthur village, there are 66 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft, with the median being Rs 1,100 per sq.ft. Masilamani Nagar's 2024 figure is equal to this median.

• Mathiezhil Asires Iyar Nagar (Teachers Colony): Rs 1,100 per sq.ft (2024)
• Mathur Pudhu Nagar: Rs 1,100 per sq.ft (2024)
• Meenatchiammal Street: Rs 1,100 per sq.ft (2024)
• M G R High Road / M G R Cross Street: Rs 1,100 per sq.ft (2024)
• M G R Nagar: Rs 1,100 per sq.ft (2024)
• M.Parvathi Nagar: Rs 1,100 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, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Masilamani Nagar?

The Sub Registrar Office that covers Masilamani Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Matthur. It determines the stamp duty and registration fees that must be paid, ensuring that the transaction is legally compliant.

When a property is registered, the guideline value is considered to ascertain the applicable fees. Buyers and sellers need to be aware of the current guideline value to accurately calculate their financial obligations during the property transaction.

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 has the guideline value changed over the years?

The guideline value has changed from Rs 55 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 1,900% over the years.

What is the registration office for Masilamani Nagar?

The registration office for Masilamani Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in Masilamani Nagar?

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

Are there other streets in Matthur with the same guideline value?

Yes, there are other streets in Matthur with the same guideline value of Rs 1,100 per sq.ft for 2024, including Mathiezhil Asires Iyar Nagar, Mathur Pudhu Nagar, and Meenatchiammal Street.