Guideline Value for MASUTHI STREET

Masuthi Street guideline value

The current guideline value of Masuthi Street in Medavakkam village is Rs 1,870 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Masuthi Street has changed

The guideline value for Masuthi Street has seen several revisions over the years. In 2012, the guideline value was Rs 1,700 per sq.ft, which then decreased to Rs 1,139 per sq.ft in 2017. This marked a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 1,700 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 1,870 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for Masuthi Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Masuthi Street's 2024 figure below that median.

• Marudham Street: Rs 1,870 per sq.ft (2024)
• Medavakkam Main Road: Rs 4,400 per sq.ft (2024)
• Mandaveli Street: Rs 2,200 per sq.ft (2024)
• Mandaveli 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Mandaveli 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Mambakkam Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Masuthi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value would be Rs 18,70,000. The stamp duty at 7% would amount to Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, together totaling Rs 1,68,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Masuthi Street?

Masuthi Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Medavakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Masuthi Street?

The current guideline value of Masuthi Street is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Masuthi Street has changed from Rs 1,700 per sq.ft in 2012 to Rs 1,139 per sq.ft in 2017, then back to Rs 1,700 per sq.ft in 2023, and finally to Rs 1,870 per sq.ft in 2024.

What is the land classification for Masuthi Street?

Masuthi Street is classified as Residential Class III Type - I according to the Chennai South Joint I SRO.

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

For a property valued at Rs 18,70,000, the stamp duty would be Rs 1,30,900 and the registration fee would be Rs 37,400, totaling Rs 1,68,300.

Which office handles registrations for Masuthi Street?

The registrations for Masuthi Street are handled by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.