Guideline Value for Masthan Kori First Street

Masthan Kori First Street guideline value

The current guideline value of Masthan Kori First Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Masthan Kori First Street has changed

The guideline value for Masthan Kori First Street has seen several revisions over the years. In 2002, the guideline value was Rs 295 per sq.ft. It increased to Rs 337 per sq.ft in 2003, marking a change of +14%. By 2007, the value rose significantly to Rs 900 per sq.ft, which was an increase of +167%. The 2012 revision brought the value to Rs 3,500 per sq.ft, reflecting a substantial rise of +289%. However, in 2017, the value decreased to Rs 2,345 per sq.ft, a decline of -33%. The guideline value then increased to Rs 3,500 per sq.ft in 2023, followed by the latest revision in 2024, which set it at Rs 3,900 per sq.ft, marking an increase of +11%.

Overall, from 2002 to 2024, the guideline value has increased by +1222%. The register does not contain figures for years other than those mentioned.

Guideline values in Adambakkam

In Adambakkam village, there are 569 streets under the Alandur SRO with a guideline value for 2024 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 Kori First Street.

• Masthan kori 2nd 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 Gori 2nd 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 Kori First Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total 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. Together, the total cost for duties would be Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Masthan Kori First Street?

The Sub Registrar Office that covers Masthan Kori First Street 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 for more information.

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

The guideline value is a critical factor in the registration process for property transactions in Adambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than the negotiated sale price.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the financial obligations during the registration process. Buyers and sellers should consider this value when planning their transactions to avoid any unexpected costs.

Frequently asked questions

What is the current guideline value of Masthan Kori First Street?

The current guideline value of Masthan Kori First Street 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 295 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of +1222% over the years.

What is the land classification for Masthan Kori First Street?

Masthan Kori First Street is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Masthan Kori First Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for property in Masthan Kori First Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000.