Guideline Value for Masuthi Street

Masuthi Street guideline value

The current guideline value of Masuthi Street in Kovilpathagai village is Rs 805 per sq.ft, effective from 1 July 2024. This street falls under the Ambattur SRO and is classified as Residential Class II Type - II.

How the guideline value of Masuthi Street has changed

The guideline value for Masuthi Street has seen several revisions over the years. In 2012, the value was Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 72%, bringing it back to Rs 805 per sq.ft. The 2024 revision maintains this value, showing no change from the previous year.

The register does not have figures for Masuthi Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 15%.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for these streets is Rs 870 per sq.ft, making Masuthi Street's 2024 figure below that median.

• Manoharan Street: Rs 880 per sq.ft (2024)
• Mettu Street: Rs 805 per sq.ft (2024)
• Mettu Street (Kannada Paalayam): Rs 805 per sq.ft (2024)
• Mangalam Nagar: Rs 803 per sq.ft (2024)
• M.G.R. Nagar: Rs 803 per sq.ft (2024)
• Mamathu Street: Rs 805 per sq.ft (2024)

Stamp duty and registration fee for property in Masuthi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 805 per sq.ft, the total guideline value amounts to Rs 8,05,000. The stamp duty at 7% would be Rs 56,350, and the registration fee at 2% would be Rs 16,100, totaling Rs 72,450. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Masuthi Street?

The Sub Registrar Office that covers Masuthi Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kovilpathagai. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value serves as a benchmark for calculating the applicable fees. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Masuthi Street?

The current guideline value of Masuthi Street is Rs 805 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 805 per sq.ft in 2023 and remained the same in 2024.

What are the guideline values of other streets in Kovilpathagai?

Other streets in Kovilpathagai have varying guideline values, with rates ranging from Rs 803 to Rs 2,900 per sq.ft. The median for these streets is Rs 870 per sq.ft.

What fees are associated with buying property in Masuthi Street?

When buying property in Masuthi Street, buyers must pay stamp duty at 7% and a registration fee at 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Masuthi Street?

The Sub Registrar Office for Masuthi Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.