Guideline Value for Masilamani Street

Masilamani Street guideline value

The current guideline value of Masilamani Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village under the Pammal SRO, classified as Residential Class II Type - I.

How the guideline value of Masilamani Street has changed

The guideline value for Masilamani Street has seen several revisions over the years. The 2017 revision set the value at Rs 670 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2023 revision. The latest revision in 2024 raised the guideline value further to Rs 1,100 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. The significant changes between revisions highlight the evolving valuation of properties in the area.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft, with a median value of Rs 1,320 per sq.ft. The guideline value of Masilamani Street is below this median.

• Maruthi Street Andal Nagar: Rs 1,320 per sq.ft (2024)
• Maruthi Street (8): Rs 1,100 per sq.ft (2024)
• Maruthi Street (15): Rs 1,100 per sq.ft (2024)
• Marudhu Pandi Street: Rs 1,100 per sq.ft (2024)
• Marudhupandiar Street: Rs 1,100 per sq.ft (2024)
• Mayana Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Masilamani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total charges to Rs 99,000. It is essential to note that 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 Street?

The Sub Registrar Office that covers Masilamani Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Pozhichalur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value influences the financial obligations of both parties. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring fairness in the transaction process.

Frequently asked questions

What is the current guideline value of Masilamani Street?

The current guideline value of Masilamani Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What are the other streets in Pozhichalur with similar guideline values?

Other streets in Pozhichalur with guideline values of Rs 1,100 per sq.ft include Maruthi Street (8), Maruthi Street (15), Marudhu Pandi Street, Marudhupandiar Street, and Mayana Street.

What is the stamp duty rate for properties in Masilamani Street?

The stamp duty rate for properties in Masilamani Street is 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Masilamani Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more information by visiting the relevant link.