Guideline Value for MASOOTHI STREET

Masoothi Street guideline value

The current guideline value of Masoothi Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Jelandianpettai village, under the Chennai South Joint I SRO, and is classified as Residential Class II Type - I.

How the guideline value of Masoothi Street has changed

The guideline value for Masoothi Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. However, this value increased significantly to Rs 2,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO that carry a guideline value for 2024, ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value of Masoothi Street.

• Medavakkam Annex Salai: Rs 2,200 per sq.ft (2024)
• Manimegalai Street: Rs 2,200 per sq.ft (2024)
• Manickam Street: Rs 2,750 per sq.ft (2024)
• Manickam Cross Street: Rs 2,750 per sq.ft (2024)
• M.G.R. Cross Street: Rs 2,200 per sq.ft (2024)
• M.G.R. Salai: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Masoothi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total charges 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 more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Masoothi Street?

The Sub Registrar Office that covers Masoothi Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Jelandianpettai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

Buyers and sellers should be aware that the guideline value may affect the overall cost of the property transaction, as the fees are calculated based on this value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Masoothi Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Masoothi Street?

Masoothi Street is classified as Residential Class II Type - I according to the local land classification regulations.

What are the stamp duty and registration fees for a property in Masoothi Street?

For a 1,000 sq.ft plot valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers the registration for Masoothi Street?

The Chennai South Joint I Sub Registrar Office covers the registration for Masoothi Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.