Guideline Value for Masudhi street

Masudhi street guideline value

The current guideline value of Masudhi street is Rs 2,740 per sq.ft, effective from 1 July 2024. This street is located in Poonthamallee village, which falls under the Poonamallee SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Masudhi street has changed

The guideline value for Masudhi street has seen several revisions over the years. The earliest recorded figure is from 2007, where it stood at Rs 400 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a substantial change of +525%. However, in 2017, the value dropped to Rs 1,675 per sq.ft, reflecting a decrease of -33%. The value then rose again to Rs 2,500 per sq.ft in 2023, and most recently, it has increased to Rs 2,740 per sq.ft in the 2024 revision, which is an increase of +10%.

It is important to note that there are no figures available for the years 2002 and 2003 for Masudhi street. Overall, from 2007 to 2024, the guideline value has increased by +585%.

Guideline values in Poonthamallee

In Poonthamallee village, there are 257 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Masudhi street is above this median.

• Mariamman koil street: Rs 2,200 per sq.ft (2024)
• Meera sahib street: Rs 2,200 per sq.ft (2024)
• Melma nagar: Rs 2,200 per sq.ft (2024)
• Mani Nagar: Rs 2,200 per sq.ft (2024)
• MG nagar: Rs 4,950 per sq.ft (2024)
• MGR nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Masudhi street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 27,40,000. The stamp duty at 7% would be Rs 1,91,800, and the registration fee at 2% would be Rs 54,800, making the total fees together Rs 2,46,600. 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 Masudhi street?

The Sub Registrar Office that covers Masudhi street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property transactions in Poonthamallee. It serves as a benchmark for determining the stamp duty and registration fees that are applicable to the property being bought or sold.

When a property is sold, the guideline value is used to calculate the necessary fees, ensuring that the transaction is recorded accurately in accordance with the local regulations. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Masudhi street?

The current guideline value of Masudhi street is Rs 2,740 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 400 per sq.ft in 2007 to Rs 2,740 per sq.ft in 2024, reflecting an overall increase of +585% over the years.

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

For a property valued at Rs 27,40,000, the stamp duty at 7% would be Rs 1,91,800, and the registration fee at 2% would be Rs 54,800, totaling Rs 2,46,600.

Which office handles the registration for Masudhi street?

The Poonamallee Sub Registrar Office handles registrations for Masudhi street, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.

What is the significance of the guideline value?

The guideline value is essential for calculating the stamp duty and registration fees during property transactions, ensuring that all transactions are conducted in compliance with local regulations.