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 Sattamangalam 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 available figure is from the 2012 revision, which was Rs 1,600 per sq.ft. This was followed by a decrease to Rs 1,072 per sq.ft in the 2017 revision, marking a decline of 33%. The 2023 revision saw an increase to Rs 1,600 per sq.ft, and the most recent 2024 revision has further increased the value to Rs 1,760 per sq.ft, reflecting a 10% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Masthan Sahib Street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Sattamangalam

Sattamangalam village has a total of 425 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 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 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)
• Maruthi Nagar Annexe: Rs 660 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)

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 amounts to 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 charges 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 Sattamangalam

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Sattamangalam, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all transactions are in compliance with local regulations.

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 other streets in Sattamangalam with similar guideline values?

Other streets in Sattamangalam with similar guideline values include Maruthupandiya Street and Maruthivar Street Rail Nagar, both at Rs 1,760 per sq.ft in 2024.

What is the role of the Sub Registrar Office in property transactions?

The Sub Registrar Office is responsible for the registration of property transactions, ensuring that all legal requirements are met. It plays a vital role in determining the applicable stamp duty and registration fees based on the guideline value.

How is stamp duty calculated for properties in Sattamangalam?

Stamp duty is 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 7% of that amount.