Guideline Value for Masana St, KKR Nagar (Ward-07)

Masana St, KKR Nagar (Ward-07) guideline value

The current guideline value for Masana St, KKR Nagar (Ward-07) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Masana St, KKR Nagar (Ward-07) has changed

In the 2017 revision, the guideline value for Masana St was Rs 804 per sq.ft. With the 2024 revision, this value has increased to Rs 1,300 per sq.ft, marking a significant change of +62% over the seven-year period. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

The increase from Rs 804 to Rs 1,300 reflects the changes in the guideline value over the years. The current value is now set at Rs 1,300 per sq.ft as per the 2024 revision.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as of 2024. The median guideline value in the village is Rs 1,600 per sq.ft, making the current value of Masana St, KKR Nagar (Ward-07) below that median.

• Marshal Avenue (Ward-02): Rs 1,300 per sq.ft (2024)
• Mavus Illam (Ward-30): Rs 1,300 per sq.ft (2024)
• Marisvilla Periya Salai (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Mayflower Phase-1: Rs 6,500 per sq.ft (2024)
• Mariamman Koil St (Ward-08): Rs 1,300 per sq.ft (2024)
• Mariamman Koil Street (Ward-10): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Masana St, KKR Nagar (Ward-07)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Masana St, KKR Nagar (Ward-07)?

The Sub Registrar Office that covers Masana St, KKR Nagar (Ward-07) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Madhavaram, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that both parties adhere to the legal requirements.

During the registration process, the guideline value helps establish a fair basis for taxation, thereby facilitating a transparent transaction. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Masana St, KKR Nagar (Ward-07)?

The current guideline value for Masana St, KKR Nagar (Ward-07) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 804 per sq.ft to Rs 1,300 per sq.ft, which is a change of +62%.

What is the land classification for Masana St, KKR Nagar (Ward-07)?

Masana St, KKR Nagar (Ward-07) is classified as Residential Class III Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Madhavaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 13,00,000 would incur a stamp duty of Rs 91,000 at 7%.