Guideline Value for MASILAMANI STREET

Masilamani Street guideline value

The current guideline value of Masilamani Street is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Residential Special Type - I.

How the guideline value of Masilamani Street has changed

The guideline value for Masilamani Street has seen several revisions over the years. In 2002, the value was Rs 1,604 per sq.ft. It increased to Rs 1,781 per sq.ft in 2003, marking an 11% rise. The value then jumped significantly to Rs 3,000 per sq.ft in 2007, reflecting a 68% increase. By 2012, the guideline value was Rs 10,000 per sq.ft, which represented a substantial 233% increase from the previous revision. However, it decreased to Rs 6,700 per sq.ft in 2017, showing a decline of 33%.

In the following revisions, the guideline value rose again to Rs 10,000 per sq.ft in 2023, which was a 49% increase from 2017. The most recent revision in 2024 set the value at Rs 11,000 per sq.ft, reflecting a 10% increase from 2023. There are no figures available for revisions in years not listed in the register.

Guideline values in Tnagar

In Tnagar village, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value is Rs 11,000 per sq.ft, which is equal to the 2024 figure for Masilamani Street.

• Manokaran Street: Rs 7,700 per sq.ft (2024)
• Mannar Reddy Street: Rs 7,700 per sq.ft (2024)
• Mangesh Street: Rs 13,200 per sq.ft (2024)
• Mambalam High Road: Rs 11,000 per sq.ft (2024)
• Maloney Road: Rs 11,000 per sq.ft (2024)
• Malligai Nagar (M.T.B.Scheme): Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Masilamani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total fees together to Rs 9,90,000. Please note that the 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 Street?

The Sub Registrar Office that covers Masilamani Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Tnagar. It serves as the basis for calculating stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official value assigned to the property.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures transparency in property transactions and helps maintain a standard for property valuations in the area.

Frequently asked questions

What is the current guideline value of Masilamani Street?

The current guideline value of Masilamani Street is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,604 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 586% over the years.

What is the classification of land on Masilamani Street?

Masilamani Street is classified as Residential Special Type - I, which indicates its designated use for residential purposes.

What are the stamp duty and registration fees for property in Masilamani Street?

For a property valued at Rs 1,10,00,000, the stamp duty would be Rs 7,70,000, and the registration fee would be Rs 2,20,000, totaling Rs 9,90,000.

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

The Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35, covers Masilamani Street.