Guideline Value for Masthan Gori 2nd lane

Masthan Gori 2nd lane guideline value

The current guideline value of Masthan Gori 2nd lane is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Masthan Gori 2nd lane has changed

Over the years, the guideline value of Masthan Gori 2nd lane has seen several revisions. The 2012 revision set the value at Rs 3,500 per sq.ft, which then changed to Rs 2,345 per sq.ft in the 2017 revision. Following that, the value increased to Rs 3,500 per sq.ft in the 2023 revision, and finally, it reached Rs 3,900 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 reflects an increase of 11%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,900 per sq.ft, which is equal to the current value of Masthan Gori 2nd lane.

• Masthan kori 2nd Street: Rs 3,900 per sq.ft (2024)
• Masthan Kori First Street: Rs 3,900 per sq.ft (2024)
• Masthan kori Ist lane: Rs 3,900 per sq.ft (2024)
• Masthan Kori Lane: Rs 3,900 per sq.ft (2024)
• Masthan Kori Main Road: Rs 3,900 per sq.ft (2024)
• Maruthi Nagar: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Masthan Gori 2nd lane

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, while the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. 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 fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Masthan Gori 2nd lane?

The Sub Registrar Office that covers Masthan Gori 2nd lane is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO online.

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

The guideline value is a crucial factor during property registration in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that transactions are recorded at a fair value.

When you buy or sell property, the guideline value influences the stamp duty and registration fees that need to be paid. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Masthan Gori 2nd lane?

The current guideline value of Masthan Gori 2nd lane is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,900 per sq.ft in 2024.

What is the land classification of Masthan Gori 2nd lane?

Masthan Gori 2nd lane is classified as Residential Class I Type - III.

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

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles the registration for Masthan Gori 2nd lane?

The Alandur Sub Registrar Office handles the registration for Masthan Gori 2nd lane, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.