Guideline Value for MASUTHI MALAI STREET

Masuthi Malai Street guideline value

The current guideline value of Masuthi Malai Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Chengalpattu Natham village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Masuthi Malai Street has changed

Over the years, the guideline value for Masuthi Malai Street has seen several revisions. The 2012 revision set the value at Rs 1,000 per sq.ft, which then changed to Rs 670 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 1,000 per sq.ft. The most recent revision in 2024 has increased the value to Rs 1,100 per sq.ft, reflecting a 10% rise from the previous year.

It is important to note that there are no figures available for Masuthi Malai Street in the revisions from 2002, 2003, and 2007. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Chengalpattu Natham

In Chengalpattu Natham, there are 88 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making the guideline value of Masuthi Malai Street below that median.

• Mohammadhiar School Road Ward- 4: Rs 2,200 per sq.ft (2024)
• Malai Street Veerapathinar Street: Rs 1,650 per sq.ft (2024)
• Malai Street: Rs 1,650 per sq.ft (2024)
• Malaimedu Ward -4: Rs 1,650 per sq.ft (2024)
• Murugesanar Street: Rs 2,200 per sq.ft (2024)
• Natham Colony: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Masuthi Malai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost for these fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Masuthi Malai Street?

The Sub Registrar Office that covers Masuthi Malai Street is the Chengleput Joint II Sub Registrar Office, 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 Chengalpattu Natham

The guideline value is an essential factor in the registration process when buying or selling property in Chengalpattu Natham. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When you proceed with a property transaction, the guideline value will be used to calculate the stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the registration process.

Frequently asked questions

What is the current guideline value of Masuthi Malai Street?

The current guideline value of Masuthi Malai Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Masuthi Malai Street?

Masuthi Malai Street is classified as Residential Class I Type - III.

Where can I find the Chengleput Joint II SRO?

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

How is stamp duty calculated for properties in Masuthi Malai Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 77,000 at 7% of Rs 11,00,000.