Guideline Value for Masilamani Garden

Masilamani Garden guideline value

The current guideline value of Masilamani Garden is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Tharapakkam village under the Pammal SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of Masilamani Garden has changed

The guideline value for Masilamani Garden has undergone several revisions over the years. The oldest revision available is from 2017, which set the value at Rs 536 per sq.ft. This was followed by a significant increase to Rs 800 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 increased the value further to Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Tharapakkam

In Tharapakkam village, there are 47 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 5,000 per sq.ft. The median value among these streets is Rs 1,100 per sq.ft, placing Masilamani Garden's 2024 figure below that median.

• Mariamman Koil Street: Rs 1,100 per sq.ft (2024)
• Mettu Street: Rs 880 per sq.ft (2024)
• M.G.R. Street: Rs 880 per sq.ft (2024)
• Madha Koil Street: Rs 880 per sq.ft (2024)
• Lurudhu Ammal Nagar: Rs 1,100 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Masilamani Garden

For a 1,000 sq.ft plot at the current rate of Rs 880 per sq.ft, the guideline value amounts to Rs 8,80,000. The stamp duty is charged at 7%, totaling Rs 61,600, while the registration fee is 2%, amounting to Rs 17,600. Together, the total cost for these fees is Rs 79,200. It is essential 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 Masilamani Garden?

The Sub Registrar Office that covers Masilamani Garden is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Tharapakkam, as it determines the amount of stamp duty and registration fees payable when buying or selling property. Buyers and sellers must refer to the current guideline value to accurately calculate these costs.

When registering a property, the guideline value serves as a benchmark for the minimum value at which the property can be sold. This ensures that all transactions are recorded at a fair value as per the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Masilamani Garden?

The current guideline value of Masilamani Garden is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 536 per sq.ft in 2017 to Rs 800 per sq.ft in 2023, and then to Rs 880 per sq.ft in 2024. Overall, this represents a 64% increase from 2017 to 2024.

What are the stamp duty and registration fees for Masilamani Garden?

For a property valued at Rs 8,80,000, the stamp duty is Rs 61,600 and the registration fee is Rs 17,600, totaling Rs 79,200. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office is responsible for Masilamani Garden?

The Pammal Sub Registrar Office is responsible for Masilamani Garden, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification of Masilamani Garden?

Masilamani Garden falls under the Residential Class III Type - I land classification. This classification is important for determining the applicable guidelines and regulations for property transactions in the area.