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 Ninna Karai 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 undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 1,600 per sq.ft. This figure remained unchanged until the next revision in 2017, which saw a significant decrease to Rs 1,072 per sq.ft. However, by 2023, the guideline value increased to Rs 1,600 per sq.ft, and the most recent revision in 2024 raised it further to Rs 1,760 per sq.ft.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023 and by 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for the village is Rs 1,100 per sq.ft, placing Masthan Sahib Street's 2024 figure above this 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 1,321 per sq.ft (2024)
• Meenakshi Sundaranar Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Maraimalai Adigalar Street (Ward -4): Rs 2,200 per sq.ft (2024)
• Manonmani Street (Ward -7): Rs 1,321 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 be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total to Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

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 details.

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

The guideline value is a crucial factor when registering a property in Ninna Karai. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps establish a baseline for negotiations between buyers and sellers. It is essential to understand that the final sale price may differ from the guideline value, but the registration will be based on the higher of the two figures.

Frequently asked questions

What is the current guideline value of Masthan Sahib Street (Ward -8)?

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.

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

For a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 and the registration fee would be Rs 35,200, totaling Rs 1,58,400.

Which Sub Registrar Office covers Masthan Sahib Street?

The Chengleput Joint II Sub Registrar Office covers Masthan Sahib Street (Ward -8), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the significance of the guideline value when buying or selling property?

The guideline value is used to determine the minimum registration value of a property, which in turn affects the stamp duty and registration fees. It ensures that the government receives appropriate revenue from property transactions.