Guideline Value for MASTHAN SAHIB STREET (WARD -8)

Masthan Sahib Street (Ward -8) guideline value

The current guideline value of Masthan Sahib Street (Ward -8) is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Kattankollatur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Masthan Sahib Street (Ward -8) has changed

The guideline value for Masthan Sahib Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,600 per sq.ft. This was followed by a decrease to Rs 1,072 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 1,600 per sq.ft, and the most recent 2024 revision has raised it to Rs 1,760 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Between revisions, the changes have varied significantly. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a slight increase of 10%.

Guideline values in Kattankollatur

Kattankollatur has a total of 453 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,612 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, making the 2024 figure for Masthan Sahib Street above the median.

• Maruthupandiya Street (Ward -8): Rs 1,760 per sq.ft (2024)
• Maruthivar Street Rail Nagar (Ward -2): Rs 1,760 per sq.ft (2024)
• Marudhiruvar Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Meenakshi Sundaranar Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Maraimalai Adigalar Street (Ward -4): Rs 2,200 per sq.ft (2024)
• Manonmani Street (Ward -7): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Masthan Sahib Street (Ward -8)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, while the registration fee at 2% would be Rs 35,200, leading to a total of Rs 1,58,400. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Masthan Sahib Street (Ward -8)?

The Sub Registrar Office that covers Masthan Sahib Street (Ward -8) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kattankollatur. It serves as a benchmark for determining the minimum value at which a property can be registered. The guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value or the sale price, whichever is higher, is considered for the calculation of duties. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of real estate in the area.

Frequently asked questions

What is the current guideline value of Masthan Sahib Street?

The current guideline value of Masthan Sahib Street (Ward -8) is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then back to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,760 per sq.ft in 2024. There are no figures available for the years 2002, 2003, and 2007.

What is the land classification for Masthan Sahib Street?

The land classification for Masthan Sahib Street (Ward -8) is Residential Special Type - III. This classification indicates the type of development and usage permitted in the area.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles property registrations for the area.

How is stamp duty calculated for properties in Kattankollatur?

Stamp duty is calculated based on the higher value between the guideline value and the sale price of the property. The current rate for stamp duty is 7%, and there is also a registration fee of 2% applicable to property transactions.