Guideline Value for Masilamani Nagar

Masilamani Nagar guideline value

The current guideline value of Masilamani Nagar is Rs 1,870 per sq.ft, effective from 1 July 2024. This locality is situated in Mangadu -A, under the Kunrathur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Masilamani Nagar has changed

The guideline value for Masilamani Nagar has seen significant changes over the years. The register has no figure for the years 2002, 2003, 2007, and 2012. In 2017, the guideline value was recorded at Rs 1,139 per sq.ft. This figure increased to Rs 1,700 per sq.ft in 2023, marking a substantial increase of 49%. The most recent revision in 2024 set the guideline value at Rs 1,870 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has risen by 64%. This upward trend indicates a consistent increase in the valuation of properties in Masilamani Nagar over the years, aligning with the changes observed across the locality.

Guideline values in Mangadu -A

Mangadu -A encompasses 208 streets under the Kunrathur SRO, with guideline values ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for the village is Rs 1,870 per sq.ft, which matches the current figure for Masilamani Nagar.

• Masilamani Nagar Annexe: Rs 1,480 per sq.ft (2024)
• Maruthy Nagar: Rs 1,870 per sq.ft (2024)
• Maruthy Enclave: Rs 1,870 per sq.ft (2024)
• Mariamman koil Street: Rs 1,980 per sq.ft (2024)
• Meenakshi Nagar: Rs 1,430 per sq.ft (2024)
• Mannarsamy koil Street: Rs 1,980 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 1,870 per sq.ft, the total guideline value would be Rs 18,70,000. The stamp duty at 7% would amount to Rs 1,30,900, and the registration fee at 2% would be Rs 37,400. Together, the total costs would be Rs 1,68,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

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. For additional details, you can find your SRO.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value plays a crucial role in the registration process of property transactions in Mangadu -A. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation of the property.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations during the registration process. This value serves as a benchmark for the transaction, helping to maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of Masilamani Nagar?

The current guideline value of Masilamani Nagar is Rs 1,870 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,139 per sq.ft to Rs 1,870 per sq.ft in 2024, marking an overall increase of 64%.

What is the registration office for Masilamani Nagar?

The registration office for Masilamani Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the same value.

What are the guideline values of other streets in Mangadu -A?

Other streets in Mangadu -A have varying guideline values, with rates ranging from Rs 1,320 to Rs 3,300 per sq.ft. For example, Masilamani Nagar Annexe is Rs 1,480 per sq.ft, while Mariamman koil Street is Rs 1,980 per sq.ft.