Guideline Value for MASILAMANI THOTTAM

Masilamani Thottam guideline value

The current guideline value of Masilamani Thottam is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Enjambakkam village under the Neelankarai SRO, and it falls under the Residential Class IV Type - I land classification.

How the guideline value of Masilamani Thottam has changed

Over the years, the guideline value of Masilamani Thottam has seen several revisions. The earliest recorded figure is from 2012, which was Rs 1,500 per sq.ft. In 2017, the guideline value decreased to Rs 1,005 per sq.ft, marking a decline of 33%. However, this was followed by a significant increase in 2023, where the value rose to Rs 1,500 per sq.ft, and then further increased to Rs 1,700 per sq.ft in 2024, representing a 13% rise from the previous year.

The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for Masilamani Thottam. Overall, from 2012 to 2024, the guideline value has increased by 13%.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which means Masilamani Thottam's 2024 figure is below this median.

• Me.Aa.Vaithiyaligam Salai: Rs 1,700 per sq.ft (2024)
• Mohana Garden: Rs 2,200 per sq.ft (2024)
• Muneeswaran Cross Kulakarai Street: Rs 2,800 per sq.ft (2024)
• Muneeswaran Koil Street: Rs 2,800 per sq.ft (2024)
• Kutbi Complex & Avenue: Rs 4,500 per sq.ft (2024)
• Kuppam Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Masilamani Thottam

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total cost for these fees to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Masilamani Thottam?

The Sub Registrar Office that covers Masilamani Thottam is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Enjambakkam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers must ensure they are aware of the current guideline value to avoid any discrepancies during registration.

When a property is sold, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the correct amount based on the property's worth.

Frequently asked questions

What is the current guideline value of Masilamani Thottam?

The current guideline value of Masilamani Thottam is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification for Masilamani Thottam?

Masilamani Thottam is classified under Residential Class IV Type - I.

What is the median guideline value for streets in Enjambakkam?

The median guideline value for the 253 streets in Enjambakkam is Rs 2,200 per sq.ft, which means Masilamani Thottam's 2024 figure is below this median.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.