Guideline Value for MASUDI STREET

Masudi Street guideline value

The current guideline value of Masudi Street in Purasaivakkam village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Purasaivakkam SRO and is classified as Residential Class IV Type - I.

How the guideline value of Masudi Street has changed

The guideline value for Masudi Street has seen several revisions over the years. In 2007, the value was Rs 1,100 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, this was followed by a decrease to Rs 2,680 per sq.ft in 2017. The value then rose to Rs 4,000 per sq.ft in 2023, and finally to the current rate of Rs 4,400 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The rise from 2012 to 2017 marked a decrease of 33%, while the jump from 2007 to 2012 was a substantial 264%. Overall, from 2007 to 2024, the guideline value has increased by 300%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, placing Masudi Street's 2024 figure below this median.

• Medavakkam Tank 1st Street: Rs 6,500 per sq.ft (2024)
• Medavakkam Tank 2nd Street: Rs 6,500 per sq.ft (2024)
• Medavakkam Tank 3rd Street: Rs 6,500 per sq.ft (2024)
• Medavakkam Tank Road: Rs 9,900 per sq.ft (2024)
• Manonmani Ammal Street: Rs 7,700 per sq.ft (2024)
• Menod Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Masudi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Masudi Street?

Masudi Street is covered by the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor during property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in the buying and selling process.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs for property buyers. This ensures that both the buyer and seller are aware of the financial implications associated with the transaction.

Frequently asked questions

What is the current guideline value of Masudi Street?

The current guideline value of Masudi Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles registrations for Masudi Street?

The Purasaivakkam Sub Registrar Office handles registrations for Masudi Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value for properties, which in turn affects the stamp duty and registration fees during property transactions.