Guideline Value for Masuthi Street

Masuthi Street guideline value

The current guideline value of Masuthi Street in Mugappair village is Rs 5,500 per sq.ft, effective from 1 July 2024. This street falls under the Konnur SRO and is classified as Residential Class I Type - I.

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 value in 2002 was Rs 566 per sq.ft, which increased to Rs 622 per sq.ft in 2003, marking a 10% rise. By 2007, the value jumped significantly to Rs 1,500 per sq.ft, reflecting a 141% increase. The value then rose to Rs 5,000 per sq.ft in 2012, a substantial increase of 233% from the previous revision. However, it dropped to Rs 3,350 per sq.ft in 2017, which was a decrease of 33% compared to 2012. The value further increased to Rs 5,000 per sq.ft in 2023, showing a 49% rise from 2017, before reaching the current value of Rs 5,500 per sq.ft in 2024, a 10% increase from the previous year.

The guideline value register has no figures for the years not mentioned in the provided list.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, indicating that Masuthi Street's 2024 figure is below this median.

• Maria Street: Rs 3,300 per sq.ft (2024)
• Mariamman Koil Street 1,2 and 3rd Street: Rs 3,300 per sq.ft (2024)
• Maraimalai Adigal Salai: Rs 5,500 per sq.ft (2024)
• Melppatti Ponnambalam Mudhali Street: Rs 3,800 per sq.ft (2024)
• Manjakkuppam: Rs 3,800 per sq.ft (2024)
• Mettucherry: Rs 3,800 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 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total charges Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or 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 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 information.

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

The guideline value is a critical factor during the registration of property transactions in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property. The amount payable is based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to be aware of the current guideline value as it directly impacts the overall cost of the transaction. Buyers and sellers should ensure that they are informed about the latest revisions to avoid any discrepancies 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 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 566 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 872% over the years.

Which Sub Registrar Office covers Masuthi Street?

The Konnur Sub Registrar Office covers Masuthi Street, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated for properties in Masuthi Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, on a property with a guideline value of Rs 55,00,000, the stamp duty would be Rs 3,85,000 at a rate of 7%.

What are the guideline values of other streets in Mugappair?

Other streets in Mugappair have varying guideline values, with rates ranging from Rs 3,300 to Rs 8,800 per sq.ft. For instance, Maria Street and Mariamman Koil Street have a guideline value of Rs 3,300 per sq.ft, while Maraimalai Adigal Salai matches the value of Masuthi Street at Rs 5,500 per sq.ft.