Guideline Value for MASTHAN KOIL PATTAI

Masthan Koil Pattai guideline value

The current guideline value of Masthan Koil Pattai is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village under the Thiruvottiyur SRO, classified as Residential Special Type - I.

How the guideline value of Masthan Koil Pattai has changed

The guideline value for Masthan Koil Pattai has seen several revisions over the years. The 2007 revision set the value at Rs 500 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 500% rise. However, this value decreased to Rs 2,010 per sq.ft in 2017, representing a 33% decline. The value then rose again to Rs 3,000 per sq.ft in 2023, and finally, it reached Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 figure, the increase is substantial, at 560%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the guideline value of Masthan Koil Pattai.

• Marvadi Quarters: Rs 3,300 per sq.ft (2024)
• Mattumandai: Rs 2,150 per sq.ft (2024)
• Ma.Ve.Na. Nagar: Rs 2,800 per sq.ft (2024)
• Market Lane Kaladipet: Rs 2,800 per sq.ft (2024)
• Manikkam Nagar Extn: Rs 3,300 per sq.ft (2024)
• Manikkam Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Masthan Koil Pattai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Masthan Koil Pattai?

The Sub Registrar Office covering Masthan Koil Pattai 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 Thiruvottiyur

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruvottiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the registration process is aligned with the prevailing market conditions.

Frequently asked questions

What is the current guideline value of Masthan Koil Pattai?

The current guideline value of Masthan Koil Pattai is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 560%.

What are the stamp duty rates for property in Masthan Koil Pattai?

The stamp duty for property in Masthan Koil Pattai is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification of Masthan Koil Pattai?

Masthan Koil Pattai is classified as Residential Special Type - I under the Thiruvottiyur SRO.