Guideline Value for Masuthi Street (Chelliamman)

Masuthi Street (Chelliamman) guideline value

The current guideline value of Masuthi Street (Chelliamman) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in 5. Athipattu village under the Konnur SRO, classified as Residential Class I Type - II.

How the guideline value of Masuthi Street (Chelliamman) has changed

The guideline value for Masuthi Street (Chelliamman) has seen significant changes over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 brought the value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in 5. Athipattu

In 5. Athipattu, there are 119 streets under the Konnur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 7,650 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is the same as the current value for Masuthi Street (Chelliamman).

• Meenakshi Avenue: Rs 4,400 per sq.ft (2024)
• Mariamman Street: Rs 1,600 per sq.ft (2024)
• Mariammankoil Street (Kuppam): Rs 1,600 per sq.ft (2024)
• Manimuthu Aaru(ICF): Rs 2,400 per sq.ft (2024)
• Mettu Street: Rs 1,600 per sq.ft (2024)
• M.G.R. Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Masuthi Street (Chelliamman)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these fees 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Masuthi Street (Chelliamman)?

The Sub Registrar Office that covers Masuthi Street (Chelliamman) is the Konnur Sub Registrar Office, located at Sub Register Office, 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 5. Athipattu

The guideline value is a crucial factor when registering property in 5. Athipattu. It serves as a benchmark for determining the minimum value at which a property can be sold or bought, ensuring that the transaction is recorded at a fair value.

When you buy or sell property, the guideline value helps calculate the stamp duty and registration fees, which are mandatory for the legal transfer of ownership. This ensures that all transactions are transparent and adhere to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Masuthi Street (Chelliamman)?

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

How much has the guideline value changed recently?

From the 2017 revision of Rs 1,340 per sq.ft to the 2024 revision of Rs 2,200 per sq.ft, the guideline value has increased by 64%. The most recent change from 2023 to 2024 was a 10% increase.

What is the median guideline value for streets in 5. Athipattu?

The median guideline value for streets in 5. Athipattu is Rs 2,200 per sq.ft, which is the same as the current value for Masuthi Street (Chelliamman).

What fees are associated with buying property in Masuthi Street (Chelliamman)?

When buying property, you will need to pay stamp duty at 7% and a registration fee at 2% of the guideline value. For a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Where is the Sub Registrar Office for Masuthi Street (Chelliamman)?

The Sub Registrar Office for Masuthi Street (Chelliamman) is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.