Guideline Value for Masuthi Street

Masuthi Street guideline value

The current guideline value of Masuthi Street in Padiyanallur village is Rs 770 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Masuthi Street has changed

Over the years, the guideline value of Masuthi Street has seen several revisions. The earliest recorded revision was in 2003, where the guideline value was Rs 171 per sq.ft. This increased to Rs 400 per sq.ft in 2007, and then to Rs 700 per sq.ft in 2012. However, in 2017, it decreased to Rs 469 per sq.ft. The value then rose significantly to Rs 700 per sq.ft in 2023, before reaching the current rate of Rs 770 per sq.ft in 2024, marking a 10% increase from the previous year.

Notably, there is no figure available for Masuthi Street in the 2002 revision. The overall change from 2003 to 2024 shows a remarkable increase of 350%, reflecting the fluctuations in the guideline values over the years.

Guideline values in Padiyanallur

Padiyanallur village has a total of 132 streets under the Redhills SRO, with guideline values ranging from Rs 385 to Rs 2,750 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, which is the same as the current guideline value for Masuthi Street.

• Matha Koil Street: Rs 770 per sq.ft (2024)
• Marudhupandiar Street: Rs 1,320 per sq.ft (2024)
• Meenakshi Nagar: Rs 385 per sq.ft (2024)
• Maraimalai Adigal Street: Rs 770 per sq.ft (2024)
• M.A.Nagar Varadarasanar Street: Rs 770 per sq.ft (2024)
• M.G.R. Street: Rs 660 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 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Masuthi Street?

The Sub Registrar Office that covers Masuthi Street is the Redhills Sub Registrar Office. The address is Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Padiyanallur, as it determines the minimum value at which a property can be registered. When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

This ensures that the state government receives the appropriate revenue from property transactions. Buyers and sellers should be aware of the guideline value to ensure compliance with registration requirements and to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Masuthi Street?

The current guideline value of Masuthi Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 171 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, reflecting a total increase of 350% over the years.

What is the registration office for Masuthi Street?

The registration office for Masuthi Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Masuthi Street?

Stamp duty for properties in Masuthi Street is calculated at 7% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur a stamp duty of Rs 53,900.

What are the other streets in Padiyanallur with similar guideline values?

Other streets in Padiyanallur with similar guideline values include Matha Koil Street, Maraimalai Adigal Street, and M.A.Nagar Varadarasanar Street, all at Rs 770 per sq.ft in 2024.