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 Peramanoor village under the Chengleput Joint II SRO, and the land classification is Residential Special Type - III.

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

Over the years, the guideline value of Masthan Sahib Street has seen several revisions. The 2012 revision set the value at Rs 1,600 per sq.ft, which remained unchanged until the 2017 revision, where the value was reduced to Rs 1,072 per sq.ft. Following this, the 2023 revision increased the value to Rs 1,600 per sq.ft, and the most recent 2024 revision has set it at Rs 1,760 per sq.ft.

In terms of percentage changes, from 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The transition from 2023 to 2024 reflects a 10% increase. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase in the guideline value for this street.

Guideline values in Peramanoor

Peramanoor village has a total of 430 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 550 to Rs 2,200 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, positioning Masthan Sahib Street's 2024 value 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 1,320 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, bringing the total cost for these fees 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 calculations, you can use the stamp duty and registration fee calculator.

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

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

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

The guideline value is a crucial factor in the registration process when buying or selling property in Peramanoor. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated fairly based on the established values for each street.

When a property transaction occurs, the guideline value helps in assessing the official value of the property, which is used by the registration authorities to levy the appropriate fees. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property transactions.

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 is the land classification for Masthan Sahib Street?

The land classification for Masthan Sahib Street (Ward -8) is Residential Special Type - III.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, 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.