Guideline Value for Masilamanieswarar Nagar 8th Street

Masilamanieswarar Nagar 8th Street guideline value

The current guideline value of Masilamanieswarar Nagar 8th Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village under the Ambattur SRO, classified as Residential Class I Type - I.

How the guideline value of Masilamanieswarar Nagar 8th Street has changed

The guideline value for Masilamanieswarar Nagar 8th Street has seen several revisions over the years. The earliest recorded figure is from 2012, where it was Rs 2,200 per sq.ft. In 2017, the value decreased to Rs 1,474 per sq.ft, marking a drop of 33%. Subsequently, the guideline value increased significantly to Rs 2,200 per sq.ft in 2023, and then further rose to Rs 2,400 per sq.ft in 2024, reflecting a 9% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2024, the overall change in the guideline value is an increase of 9%. The value jumped by 49% from Rs 1,474 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2023, followed by the 9% increase to the current rate in 2024.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft. The median value is Rs 2,400 per sq.ft, which matches the current guideline value of Masilamanieswarar Nagar 8th Street.

• Masilamanieswarar Nagar 7th Street: Rs 2,400 per sq.ft (2024)
• Masilamanieswarar Nagar 9th Street: Rs 2,400 per sq.ft (2024)
• Masilamanieswarar Nagar 6th Street: Rs 2,400 per sq.ft (2024)
• Masilamanieswarar Nagar Golden 1st Cross Street: Rs 2,400 per sq.ft (2024)
• Masilamanieswarar Nagar 5th Street: Rs 2,400 per sq.ft (2024)
• Masilamanieswarar Nagar Golden 2nd Cross Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Masilamanieswarar Nagar 8th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total cost to Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your costs using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Masilamanieswarar Nagar 8th Street?

The Sub Registrar Office that covers Masilamanieswarar Nagar 8th Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thirumullaivoyal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately and legally.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the state receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Masilamanieswarar Nagar 8th Street?

The current guideline value of Masilamanieswarar Nagar 8th Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then increased to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 1,68,000, and the registration fee would be Rs 48,000, totaling Rs 2,16,000.

Which Sub Registrar Office covers this street?

The Ambattur Sub Registrar Office covers Masilamanieswarar Nagar 8th Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification of Masilamanieswarar Nagar 8th Street?

Masilamanieswarar Nagar 8th Street is classified as Residential Class I Type - I, indicating its suitability for residential development.