Guideline Value for Masilamanieswarar Nagar

Masilamanieswarar Nagar guideline value

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

How the guideline value of Masilamanieswarar Nagar has changed

The guideline value for Masilamanieswarar Nagar has seen several revisions over the years. Starting from Rs 63 per sq.ft in 2002, it increased to Rs 100 per sq.ft in 2003, followed by a rise to Rs 400 per sq.ft in 2007. The value then jumped significantly to Rs 2,200 per sq.ft in 2012, but saw a decrease to Rs 1,474 per sq.ft in 2017. The most recent revisions show an increase to Rs 2,200 per sq.ft in 2023, and then to Rs 2,400 per sq.ft in 2024, marking a 9% increase from the previous year.

Overall, the guideline value has increased by 3,710% from 2002 to 2024. The changes between the revisions reflect a significant fluctuation in the values, particularly a notable rise of 450% from 2007 to 2012 and a 49% increase from 2017 to 2023.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO with 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, and Masilamanieswarar Nagar's current value aligns with this median.

• Masilamanieswarar Koil Street(Manikanda Puram): Rs 2,400 per sq.ft (2024)
• Masilamanieswarar Nagar 1st Street: Rs 2,400 per sq.ft (2024)
• Masilamanieswarar Nagar 2nd Street: Rs 2,400 per sq.ft (2024)
• Masilamanieswarar Nagar 3rd Street: Rs 2,400 per sq.ft (2024)
• Masilamanieswarar Nagar 4th Street: Rs 2,400 per sq.ft (2024)
• Masilamanieswarar Nagar 5th Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Masilamanieswarar Nagar

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 for these fees 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Masilamanieswarar Nagar?

The Sub Registrar Office covering Masilamanieswarar Nagar 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 details.

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

The guideline value is a critical factor in property transactions in Thirumullaivoyal, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it influences the stamp duty and registration fees applicable to the transaction.

When a property is sold, the registration office uses the guideline value to compute the necessary fees, ensuring that all transactions are recorded accurately and fairly. This process helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Masilamanieswarar Nagar?

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

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 63 per sq.ft in 2002 to Rs 2,400 per sq.ft in 2024, marking an overall increase of 3,710%.

What is the stamp duty rate for properties in Masilamanieswarar Nagar?

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

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

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

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value for properties and to calculate stamp duty and registration fees during property transactions in Thirumullaivoyal.