Guideline Value for Masilamani Lane

Masilamani Lane guideline value

The current guideline value of Masilamani Lane is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Siruvallur village under the Sembiam SRO, classified as Residential Class IV Type - I.

How the guideline value of Masilamani Lane has changed

The guideline value for Masilamani Lane has seen several revisions over the years. The earliest recorded figure is from 2003, where it was Rs 576 per sq.ft. This value increased to Rs 800 per sq.ft in 2007, followed by a rise to Rs 1,500 per sq.ft in 2012. However, it then decreased to Rs 1,005 per sq.ft in 2017. The value further increased to Rs 1,500 per sq.ft in 2023, and most recently, it has been set at Rs 1,600 per sq.ft in the 2024 revision. The register has no figure for the year 2002.

In terms of percentage changes, the guideline value increased by 39% from 2003 to 2007, then saw an 88% rise from 2007 to 2012. After a decrease of 33% from 2012 to 2017, it experienced a significant increase of 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 7% increase. Overall, from 2003 to 2024, the guideline value has risen by 178%.

Guideline values in Siruvallur

In Siruvallur village, there are 86 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 6,600 per sq.ft, with a median value of Rs 1,900 per sq.ft. Masilamani Lane's 2024 figure is below this median.

• Market Street: Rs 3,900 per sq.ft (2024)
• Market Lane: Rs 1,900 per sq.ft (2024)
• Manicka Vinayagar Koil Street: Rs 2,200 per sq.ft (2024)
• Madhavaram High Road: Rs 5,500 per sq.ft (2024)
• Munusamy Achari Street: Rs 1,900 per sq.ft (2024)
• Murugesa Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Masilamani Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees together to Rs 1,44,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Masilamani Lane?

The Sub Registrar Office that covers Masilamani Lane is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Siruvallur, as it is the basis for calculating stamp duty and registration fees. When a property is sold, the buyer must pay these fees based on the guideline value or the sale price, whichever is higher.

Additionally, the guideline value is used to ensure that property transactions are conducted transparently and in accordance with government regulations. This helps maintain a standard for property pricing in the area.

Frequently asked questions

What is the current guideline value of Masilamani Lane?

The current guideline value of Masilamani Lane is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Masilamani Lane has changed from Rs 576 per sq.ft in 2003 to Rs 1,600 per sq.ft in 2024, with various increases and one decrease over the years.

What is the registration office for Masilamani Lane?

The registration office for Masilamani Lane is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Masilamani Lane?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 1,12,000.

What are the guideline values of other streets in Siruvallur?

Other streets in Siruvallur have varying guideline values, with figures ranging from Rs 1,600 to Rs 6,600 per sq.ft. For instance, Market Street is valued at Rs 3,900 per sq.ft, while Market Lane is at Rs 1,900 per sq.ft.