Guideline Value for Masthan kori 2nd Street

Masthan kori 2nd Street guideline value

The current guideline value for Masthan kori 2nd 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 2nd Street has changed

The guideline value for Masthan kori 2nd Street has seen several revisions over the years. In 2002, the guideline value was Rs 295 per sq.ft. This increased to Rs 337 per sq.ft in 2003, marking a 14% rise. The value then experienced a significant increase to Rs 900 per sq.ft in 2007, which was a 167% jump. Following this, the value surged to Rs 3,500 per sq.ft in 2012, reflecting a 289% increase. However, it dropped to Rs 2,345 per sq.ft in 2017, a decrease of 33%. The value then rose again to Rs 3,500 per sq.ft in 2023, and most recently, it has increased to 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 1,222%. Notably, there are no figures available for this street in the revisions for the years not listed.

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 the same as the 2024 figure for Masthan kori 2nd Street.

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

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value would be 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, totaling Rs 3,51,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Masthan kori 2nd Street?

The Sub Registrar Office that covers Masthan kori 2nd 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 plays a crucial role in property transactions in Adambakkam. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. This ensures that the government receives the appropriate revenue from property transactions.

When a property is registered, the guideline value is compared to the sale price. The higher of the two amounts is used to calculate the applicable duties and fees. This helps maintain transparency in property transactions and ensures that all parties are aware of the financial obligations involved.

Frequently asked questions

What is the current guideline value for Masthan kori 2nd Street?

The current guideline value for Masthan kori 2nd 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, showing an overall increase of 1,222% over the years.

What is the land classification for Masthan kori 2nd Street?

Masthan kori 2nd Street is classified as Residential Class I Type - III.

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

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same amount. For example, a 1,000 sq.ft plot at Rs 3,900 per sq.ft would incur a total of Rs 3,51,000 in fees.

Where is the Alandur Sub Registrar Office located?

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