Guideline Value for Masthan Kori Main Road

Masthan Kori Main Road guideline value

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

How the guideline value of Masthan Kori Main Road has changed

The guideline value for Masthan Kori Main Road has seen several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 295 per sq.ft. This increased to Rs 337 per sq.ft in 2003, followed by a significant rise to Rs 900 per sq.ft in 2007. The value then jumped to Rs 3,500 per sq.ft in 2012, but saw a decrease to Rs 2,345 per sq.ft in 2017. The value rose again to Rs 3,500 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 3,900 per sq.ft.

Looking at the changes, the increase from 2023 to 2024 is +11%. From 2017 to 2023, the increase was +49%. However, there was a decrease of -33% from 2012 to 2017. The jump from 2007 to 2012 was +289%, and from 2003 to 2007, it was +167%. The change from 2002 to 2003 was +14%. Overall, from 2002 to 2024, the guideline value has increased by +1222%.

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 for these streets is Rs 3,900 per sq.ft, which is equal to the current value for Masthan Kori Main Road.

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

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, and the registration fee at 2% would be Rs 78,000, making the total cost 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.

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

Which Sub Registrar Office covers Masthan Kori Main Road?

The Sub Registrar Office that covers Masthan Kori Main Road 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 details.

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

The guideline value is an essential factor when registering a property in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with the registration requirements.

When a property is sold, the guideline value is used to calculate the applicable taxes and fees. It is crucial to verify the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Masthan Kori Main Road?

The current guideline value of Masthan Kori Main Road 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 increased from Rs 295 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting a significant overall increase of +1222% over this period.

What is the registration office for Masthan Kori Main Road?

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

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, and the registration fee is charged at 2% of the guideline value. For example, a 1,000 sq.ft plot would incur a total cost of Rs 3,51,000 in fees.

Where can I find more information about guideline values in Adambakkam?

For more details about guideline values in Adambakkam, you can refer to the Registration Department's guideline value register available on their official website.