Guideline Value for Mandaveli Masoodi Street

Mandaveli Masoodi Street guideline value

The current guideline value of Mandaveli Masoodi Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village under the Virugambakkam SRO, classified as Residential Class IV Type - I.

How the guideline value of Mandaveli Masoodi Street has changed

The guideline value for Mandaveli Masoodi Street has undergone several revisions over the years. In 2002, the guideline value was Rs 146 per sq.ft. This increased to Rs 161 per sq.ft in 2003, marking a 10% rise. The value saw a significant increase to Rs 400 per sq.ft in 2007, which was a 148% increase. By 2012, the value reached Rs 2,000 per sq.ft, reflecting a 400% increase from the previous revision. However, there was a decline to Rs 1,340 per sq.ft in 2017, which represented a 33% decrease. The value then rose to Rs 2,000 per sq.ft in 2023, showing a 49% increase. Finally, the current guideline value is Rs 2,200 per sq.ft as of the 2024 revision, which is a 10% increase from the previous year.

There are no figures available for the years not mentioned in the revisions for this street.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with guideline values for 2024 ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, making the 2024 figure for Mandaveli Masoodi Street equal to this median.

• Mandaveli Pillaiyar Koil 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Mandaveli Pillaiyar Koil 1st Street: Rs 2,200 per sq.ft (2024)
• Mandaveli Main Road: Rs 2,200 per sq.ft (2024)
• Mandaveli Pillaiyar Koil 2nd Street: Rs 2,200 per sq.ft (2024)
• Mandaveli Pillaiyar Koil 3rd Street: Rs 2,200 per sq.ft (2024)
• Malligai Avenue: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Mandaveli Masoodi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, these fees would total Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mandaveli Masoodi Street?

The Sub Registrar Office that covers Mandaveli Masoodi Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Nerkundram. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property.

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

Frequently asked questions

What is the current guideline value of Mandaveli Masoodi Street?

The current guideline value of Mandaveli Masoodi Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 146 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1407%.

What is the stamp duty for property in Mandaveli Masoodi Street?

The stamp duty for property in Mandaveli Masoodi Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Virugambakkam Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Mandaveli Masoodi Street?

Mandaveli Masoodi Street is classified as Residential Class IV Type - I.