Guideline Value for Masuthi Street

Masuthi Street guideline value

The current guideline value of Masuthi Street in Soorapattu village, under the Ambattur SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

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 1,100 per sq.ft, which then decreased to Rs 737 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,100 per sq.ft in 2023, and currently stands at Rs 1,200 per sq.ft from the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, the value increased by 49% from 2017 to 2023, and there was a further increase of 9% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Soorapattu

In Soorapattu, there are 115 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 5,100 per sq.ft, with a median value of Rs 1,300 per sq.ft. Masuthi Street's 2024 figure is below this median.

• Mathanakuppam Salai: Rs 1,400 per sq.ft (2024)
• Mettur - 1st Street: Rs 1,200 per sq.ft (2024)
• Mettur - 2nd Street: Rs 1,200 per sq.ft (2024)
• Mettur - 3rd Street: Rs 1,200 per sq.ft (2024)
• Mettur - 4th Street: Rs 1,200 per sq.ft (2024)
• Mettur - 5th Street: Rs 1,200 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 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total to Rs 1,08,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our 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 Soorapattu

The guideline value plays a crucial role in the registration of property transactions in Soorapattu. It is used to determine the stamp duty and registration fees that must be paid during the transaction process.

When buying or selling a property, the guideline value is compared with the sale price, and the duty is charged on the higher of the two amounts. This ensures that the registration process is fair and transparent.

Frequently asked questions

What is the current guideline value of Masuthi Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then increased to Rs 1,100 per sq.ft in 2023, and is currently Rs 1,200 per sq.ft in 2024.

What is the land classification of Masuthi Street?

Masuthi Street falls under the Residential Class II Type - II land classification.

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

For a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000 and the registration fee would be Rs 24,000, totaling Rs 1,08,000.

Which Sub Registrar Office covers Masuthi Street?

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