Guideline Value for Masilamani Road & Street

Masilamani Road & Street guideline value

The current guideline value of Masilamani Road & Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Masilamani Road & Street has changed

The guideline value for Masilamani Road & Street has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures are from the 2023 revision, which set the value at Rs 7,000 per sq.ft, followed by the 2024 revision that increased it to Rs 7,700 per sq.ft, marking a change of +10%.

Prior to the 2023 revision, there were no figures available for the specified years. The guideline value increased from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024, indicating a notable upward adjustment in the valuation for this street.

Guideline values in Mylapore Part 1

Mylapore Part 1 consists of 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, which means that the current value of Rs 7,700 per sq.ft for Masilamani Road & Street is below the median.

• Mariyappan Street: Rs 7,700 per sq.ft (2024)
• Mariyappan Lane: Rs 7,700 per sq.ft (2024)
• Mani Mudaliyar Thottam: Rs 7,700 per sq.ft (2024)
• Maharani Chinnamma Road: Rs 15,400 per sq.ft (2024)
• Maharaja Surya Road: Rs 15,400 per sq.ft (2024)
• Maharaja Badmavathi Street: Rs 15,400 per sq.ft (2024)

Stamp duty and registration fee for property in Masilamani Road & Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty, charged at 7%, would be Rs 5,39,000, while the registration fee at 2% would be Rs 1,54,000, bringing the total cost for these fees to Rs 6,93,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Masilamani Road & Street?

The Sub Registrar Office covering Masilamani Road & Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a critical factor in the registration process when buying or selling property in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Masilamani Road & Street?

The current guideline value of Masilamani Road & Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed recently?

The guideline value increased from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024, reflecting a change of +10%.

What is the land classification for Masilamani Road & Street?

Masilamani Road & Street falls under the Residential Class II Type - I land classification.

Where can I find the registration office for this area?

The registration office for Masilamani Road & Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 at 7%.