Guideline Value for Masilamani Nagar

Masilamani Nagar guideline value

The current guideline value of Masilamani Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This locality is part of Thirumazhisai village under the Poonamallee SRO and falls under Residential Class III Type - II land classification.

How the guideline value of Masilamani Nagar has changed

In the guideline value register, there are no figures available for Masilamani Nagar for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 1,650 per sq.ft, which remained unchanged in the 2024 revision, also set at Rs 1,650 per sq.ft. Thus, the change from 2023 to 2024 reflects a 0% increase.

Guideline values in Thirumazhisai

Thirumazhisai village has a total of 86 streets under the Poonamallee SRO, with guideline values ranging from Rs 730 to Rs 3,500 per sq.ft. The median guideline value in this area is Rs 1,320 per sq.ft, placing Masilamani Nagar's 2024 figure above this median.

• Melandai madaveethi thulukallamman koil sandhut: Rs 1,100 per sq.ft (2024)
• Mandaveli street: Rs 1,100 per sq.ft (2024)
• L&T nagar: Rs 1,320 per sq.ft (2024)
• Ltm Nagar: Rs 1,540 per sq.ft (2024)
• M.R.K Avenue: Rs 1,430 per sq.ft (2024)
• Lakshmi Sinivasam Nagar: Rs 990 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 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Masilamani Nagar?

The Sub Registrar Office covering Masilamani Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Thirumazhisai. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the sale price must be at least equal to the guideline value to avoid penalties. The buyer should be aware that the stamp duty is calculated based on the higher amount between the guideline value and the sale price.

Frequently asked questions

What is the current guideline value of Masilamani Nagar?

The current guideline value of Masilamani Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Masilamani Nagar has remained at Rs 1,650 per sq.ft for both the 2023 and 2024 revisions. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Masilamani Nagar?

Masilamani Nagar falls under Residential Class III Type - II land classification. This classification is important for determining the usage and regulations applicable to properties in the area.

Where can I find the Sub Registrar Office for Masilamani Nagar?

The Sub Registrar Office for Masilamani Nagar is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Masilamani Nagar?

Stamp duty for properties in Masilamani Nagar is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.