Guideline Value for Masthan Kori Lane

Masthan Kori Lane guideline value

The current guideline value of Masthan Kori 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 is classified as Residential Class I Type - III.

How the guideline value of Masthan Kori Lane has changed

Over the years, the guideline value of Masthan Kori Lane has seen significant changes. The earliest recorded figure is from 2002, where the guideline value was Rs 267 per sq.ft. This increased to Rs 305 per sq.ft in 2003, marking a 14% rise. By 2007, the value jumped to Rs 900 per sq.ft, showing a remarkable increase of 195%. The subsequent revisions saw the value rise to Rs 3,500 per sq.ft in 2012, followed by a decrease of 33% to Rs 2,345 per sq.ft in 2017. The value then rose to Rs 3,500 per sq.ft in 2023, and finally, it reached the current figure of Rs 3,900 per sq.ft in 2024, which is an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1361%. Notably, there are no recorded figures for the years not mentioned in this context.

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 value is Rs 3,900 per sq.ft, which is equal to the current figure for Masthan Kori Lane.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total cost for these fees to 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 more details.

Which Sub Registrar Office covers Masthan Kori Lane?

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

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

The guideline value plays a crucial role in the registration process when buying or selling property in Adambakkam. It is used to determine the stamp duty and registration fees that need to be paid. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it helps in estimating the costs involved in property transactions. It ensures that the property is registered at a fair value, reflecting the current market conditions as per the government regulations.

Frequently asked questions

What is the current guideline value of Masthan Kori Lane?

The current guideline value of Masthan Kori 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 significantly from Rs 267 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting a total increase of 1361% over the years.

What are the stamp duty and registration fees for property in Masthan Kori Lane?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees amount to Rs 3,51,000.

Which Sub Registrar Office covers Masthan Kori Lane?

The Alandur Sub Registrar Office covers Masthan Kori Lane, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification of Masthan Kori Lane?

Masthan Kori Lane is classified as Residential Class I Type - III, indicating its suitability for residential purposes.