Guideline Value for Masilamani Nagar

Masilamani Nagar guideline value

The current guideline value of Masilamani Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area falls under Chennerkuppam village, governed by the Kunrathur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Masilamani Nagar has changed

The guideline value for Masilamani Nagar has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, it then decreased to Rs 804 per sq.ft in 2017. The value rose again to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,320 per sq.ft as per the 2024 revision. The register has no figure for this street in 2002 and 2003.

Between the revisions, there have been notable changes. From 2007 to 2012, the guideline value increased by 300%. However, from 2012 to 2017, it decreased by 33%. The value then surged by 49% from 2017 to 2023, and increased by 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Chennerkuppam

In Chennerkuppam, there are 74 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,895 per sq.ft, with a median value of Rs 1,540 per sq.ft. The guideline value for Masilamani Nagar is below this median.

• Mariamman koil Street: Rs 1,540 per sq.ft (2024)
• Mettu Street: Rs 1,320 per sq.ft (2024)
• Magizam Avenue: Rs 1,430 per sq.ft (2024)
• M.M. Koil Street (a) Mariamman Koil Street: Rs 1,540 per sq.ft (2024)
• M.R. Avenue: Rs 1,540 per sq.ft (2024)
• Leelavathi Nagar: Rs 1,430 per sq.ft (2024)

Stamp duty and registration fee for property in Masilamani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Masilamani Nagar?

The Sub Registrar Office that covers Masilamani Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Chennerkuppam. It serves as a benchmark for determining the stamp duty and registration fees when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

During the registration process, the guideline value helps in calculating the applicable fees. It is essential for both parties to agree on a sale price that aligns with or exceeds the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Masilamani Nagar?

The current guideline value of Masilamani Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 340% over this period.

What are the stamp duty and registration fees for property in Masilamani Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,18,800.

Which Sub Registrar Office covers Masilamani Nagar?

The Kunrathur Sub Registrar Office covers Masilamani Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Masilamani Nagar?

Masilamani Nagar is classified as Residential Class II Type - I, which indicates its suitability for residential development.