Guideline Value for Masuthi Street

Masuthi Street guideline value

The current guideline value of Masuthi Street, located in Kodambakkam village under the Ashok Nagar SRO, is Rs 4,900 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III 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. The earliest recorded figure is from 2007, where the guideline value was Rs 800 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in 2012, marking a rise of 463%. However, it then decreased to Rs 3,015 per sq.ft in 2017, a drop of 33%. The value increased again to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 4,900 per sq.ft from the 2024 revision, reflecting a 9% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 513%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, which matches the current guideline value of Masuthi Street.

• Mastan Ali Garden: Rs 4,100 per sq.ft (2024)
• Masilamani Mudaly Street: Rs 3,300 per sq.ft (2024)
• Maruthu Pandiyar Street: Rs 3,300 per sq.ft (2024)
• Mayil Sivan Muthu Street: Rs 3,300 per sq.ft (2024)
• Marutham Street: Rs 3,300 per sq.ft (2024)
• Mariyappa Naicken Street: Rs 3,300 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 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Masuthi Street?

The Sub Registrar Office that covers Masuthi Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Kodambakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair price as per government regulations.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of ownership. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Masuthi Street?

The current guideline value of Masuthi Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 800 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, marking an overall increase of 513% over the years.

What is the land classification for Masuthi Street?

Masuthi Street is classified under Residential Class III Type - II, indicating its designation for residential use.

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

The Sub Registrar Office covering Masuthi Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000.