Guideline Value for Masuthi Second Street

Masuthi Second Street guideline value

The current guideline value of Masuthi Second Street in Malligaicherry village, under the Konnur SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class III Type - I.

How the guideline value of Masuthi Second Street has changed

The guideline value for Masuthi Second Street has seen several revisions over the years. In 2002, the value was Rs 384 per sq.ft, which increased to Rs 415 per sq.ft in 2003, marking an 8% rise. By 2007, the value jumped significantly to Rs 700 per sq.ft, reflecting a 69% increase. The 2012 revision saw the value remain at Rs 2,000 per sq.ft, which was a substantial 186% increase from the previous revision.

From 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, representing a decline of 33%. However, the period from 2017 to 2023 witnessed a notable increase to Rs 2,000 per sq.ft, which is a 49% rise. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, showing a 10% increase from the previous year. There are no figures available for this street for any other revisions.

Guideline values in Malligaicherry

In Malligaicherry, there are 49 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value for Masuthi Second Street is below this median.

• Masuthi First Street: Rs 2,200 per sq.ft (2024)
• Masuthi Street: Rs 2,200 per sq.ft (2024)
• Moorthi Nagar: Rs 3,800 per sq.ft (2024)
• Madras Pattai Road @: Rs 2,750 per sq.ft (2024)
• Madras Pattai Lane: Rs 2,400 per sq.ft (2024)
• M.T.H. Road: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Masuthi Second Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, these fees would total Rs 1,98,000. It is important to note that the 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 Masuthi Second Street?

The Sub Registrar Office that covers Masuthi Second Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Malligaicherry, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Understanding this value helps in budgeting for additional costs associated with property registration.

Frequently asked questions

What is the current guideline value of Masuthi Second Street?

The current guideline value of Masuthi Second Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 384 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 473% over the years.

What are the stamp duty and registration fees for property in Masuthi Second Street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office located for Masuthi Second Street?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the land classification for Masuthi Second Street?

Masuthi Second Street is classified as Residential Class III Type - I, indicating its suitability for residential development.