Guideline Value for MASUTHI MAIN ROAD

Masuthi Main Road guideline value

The current guideline value of Masuthi Main Road is Rs 990 per sq.ft, effective from 1 July 2024. This road is located in Mannivakkam village under the Gooduvancheri SRO, classified as Residential Special Type - II.

How the guideline value of Masuthi Main Road has changed

The guideline value for Masuthi Main Road has seen several revisions over the years. The 2017 revision set the value at Rs 603 per sq.ft, which increased to Rs 900 per sq.ft in 2023. The most recent revision in 2024 raised it further to Rs 990 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, this represents a significant increase of 64%.

There are no guideline values recorded for Masuthi Main Road in the revisions of 2002, 2003, 2007, and 2012. The increase from 2017 to 2023 was 49%, reflecting a steady rise in the value over the years.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 4,300 per sq.ft. The median guideline value in this village is Rs 1,215 per sq.ft, placing Masuthi Main Road's 2024 figure below this median.

• Masuthi Theru: Rs 990 per sq.ft (2024)
• Manneeshwarar Nagar Extn: Rs 1,320 per sq.ft (2024)
• Manneeshwarar Nagar: Rs 1,320 per sq.ft (2024)
• Manneeshwarar Avenue: Rs 1,650 per sq.ft (2024)
• M.G.R. Street: Rs 990 per sq.ft (2024)
• Minitown Mannivakkam: Rs 3,450 per sq.ft (2024)

Stamp duty and registration fee for property in Masuthi Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total fees together to Rs 89,100. Please note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Masuthi Main Road?

The Sub Registrar Office that covers Masuthi Main Road is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Mannivakkam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both the buyer and seller comply with the legal requirements. It is important to note that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Masuthi Main Road?

The current guideline value of Masuthi Main Road is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 603 per sq.ft in 2017 to Rs 900 per sq.ft in 2023, and then to Rs 990 per sq.ft in 2024. This reflects a total increase of 64% from 2017 to 2024.

What are the other streets in Mannivakkam with their guideline values?

Other streets in Mannivakkam include Masuthi Theru at Rs 990 per sq.ft, Manneeshwarar Nagar Extn and Manneeshwarar Nagar both at Rs 1,320 per sq.ft, Manneeshwarar Avenue at Rs 1,650 per sq.ft, M.G.R. Street at Rs 990 per sq.ft, and Minitown Mannivakkam at Rs 3,450 per sq.ft.

How is the stamp duty calculated for properties in Masuthi Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 at 7%.

Where can I find the Sub Registrar Office for Masuthi Main Road?

The Sub Registrar Office for Masuthi Main Road is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone.