Guideline Value for Masthan Sherif Street / Nehru Nagar

Masthan Sherif Street / Nehru Nagar guideline value

The current guideline value for Masthan Sherif Street / Nehru Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO, classified as Residential Class II Type - II.

How the guideline value of Masthan Sherif Street / Nehru Nagar has changed

Over the years, the guideline value for Masthan Sherif Street / Nehru Nagar has seen significant changes. In 2002, the value was Rs 194 per sq.ft, which increased to Rs 232 per sq.ft in 2003, marking a 20% rise. The value continued to grow, reaching Rs 360 per sq.ft in 2007, a 55% increase from the previous revision. By 2017, the guideline value had surged to Rs 1,206 per sq.ft, reflecting a remarkable 235% increase since 2007. However, there is no figure for this street in the 2012 revision. The value further increased to Rs 1,800 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 1,980 per sq.ft, which is a 10% increase from the previous year.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft in 2024. The median guideline value for these streets is Rs 2,090 per sq.ft, placing the 2024 figure for Masthan Sherif Street / Nehru Nagar below this median.

• Masuran Street, Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Masthan Sahib Street / Nehru Nagar: Rs 1,980 per sq.ft (2024)
• Masooran Street, Moovendhar Nagar: Rs 1,980 per sq.ft (2024)
• Maruthupandiyar Street /Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)
• Maruthi Street /Krishna Nagar: Rs 2,530 per sq.ft (2024)
• Maruthi Street, Anna Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Masthan Sherif Street / Nehru Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600. Together, these fees would total Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Masthan Sherif Street / Nehru Nagar?

The Sub Registrar Office that covers Masthan Sherif Street / Nehru Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Pammal. It serves as a benchmark for the minimum value at which properties must be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are mandatory during the registration process.

Frequently asked questions

What is the current guideline value for Masthan Sherif Street / Nehru Nagar?

The current guideline value for Masthan Sherif Street / Nehru Nagar is Rs 1,980 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 194 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 921% over the years.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which Sub Registrar Office covers Masthan Sherif Street / Nehru Nagar?

The Pammal Sub Registrar Office covers Masthan Sherif Street / Nehru Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What other streets have the same guideline value in Pammal?

Other streets in Pammal with the same guideline value of Rs 1,980 per sq.ft include Masuran Street, Pasumpon Nagar and Masooran Street, Moovendhar Nagar.