Guideline Value for Mastan Ali Garden

Mastan Ali Garden guideline value

The current guideline value of Mastan Ali Garden is Rs 4,100 per sq.ft, effective from 1 July 2024. This area is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Mastan Ali Garden has changed

The guideline value for Mastan Ali Garden has seen significant changes over the years. In the 2007 revision, the value was Rs 1,210 per sq.ft, which increased to Rs 2,512 per sq.ft in 2017, marking a substantial rise of 108%. Following this, the value further increased to Rs 3,750 per sq.ft in the 2023 revision, reflecting a 49% growth since 2017. The most recent revision in 2024 has set the guideline value at Rs 4,100 per sq.ft, a 9% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2012 for this street. Overall, from 2007 to 2024, the guideline value has increased by 239%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, indicating that the guideline value for Mastan Ali Garden is below this median.

• Masuthi Street: Rs 4,900 per sq.ft (2024)
• Masilamani Mudaly Street: Rs 3,300 per sq.ft (2024)
• Maruthu Pandiyar Street: Rs 3,300 per sq.ft (2024)
• Mayil Sivan Muthu Street: Rs 3,300 per sq.ft (2024)
• Marutham Street: Rs 3,300 per sq.ft (2024)
• Mariyappa Naicken Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mastan Ali Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, while the registration fee at 2% would be Rs 82,000, bringing the total costs to Rs 3,69,000. It is important to note that the 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 Mastan Ali Garden?

The Sub Registrar Office that covers Mastan Ali Garden is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kodambakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the guideline value ensures that the transaction is recorded accurately, reflecting the official value of the property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Mastan Ali Garden?

The current guideline value of Mastan Ali Garden is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 1,210 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, reflecting a total increase of 239% over the years.

Where can I find the Ashok Nagar Sub Registrar Office?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

What is the stamp duty rate for properties in Mastan Ali Garden?

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

What are the other streets in Kodambakkam with their guideline values?

Other streets in Kodambakkam include Masuthi Street at Rs 4,900 per sq.ft, and several streets at Rs 3,300 per sq.ft, such as Masilamani Mudaly Street, Maruthu Pandiyar Street, Mayil Sivan Muthu Street, Marutham Street, and Mariyappa Naicken Street.