Guideline Value for Masoothi Colony 2nd Street

Masoothi Colony 2nd Street guideline value

The current guideline value for Masoothi Colony 2nd Street is Rs 2,150 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village under the Selaiyur SRO, classified as Residential Class I Type - I.

How the guideline value of Masoothi Colony 2nd Street has changed

The guideline value for Masoothi Colony 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,340 per sq.ft, reflecting a decrease of 33%. In 2023, the value increased to Rs 2,000 per sq.ft, and the latest revision in 2024 raised it further to Rs 2,150 per sq.ft, marking an 8% increase from the previous year.

Between the revisions, the most significant change occurred from 2017 to 2023, with an increase of 49%. Overall, from the 2012 revision to the current 2024 figure, the guideline value has seen a modest increase of 8%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 5,000 per sq.ft. The median value is Rs 2,150 per sq.ft, which is the same as the current guideline value for Masoothi Colony 2nd Street.

• Masoothy Colony 1st Street: Rs 2,150 per sq.ft (2024)
• Masoothy Colony 3rd Street: Rs 2,150 per sq.ft (2024)
• Masoothy Colony 4th Street: Rs 2,150 per sq.ft (2024)
• Masoothy Colony 5th Street: Rs 2,150 per sq.ft (2024)
• Masoothy Colony Kaveri Street: Rs 2,150 per sq.ft (2024)
• Masoothy Colony Main Road: Rs 2,150 per sq.ft (2024)

Stamp duty and registration fee for property in Masoothi Colony 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,150 per sq.ft, the total guideline value would be Rs 21,50,000. The stamp duty at 7% would amount to Rs 1,50,500, and the registration fee at 2% would be Rs 43,000, bringing the total fees to Rs 1,93,500. It is essential 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 Masoothi Colony 2nd Street?

The Sub Registrar Office that covers Masoothi Colony 2nd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in line with the government’s valuation standards.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Masoothi Colony 2nd Street?

The current guideline value for Masoothi Colony 2nd Street is Rs 2,150 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 to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,150 per sq.ft in 2024.

What are the other streets in Rajakilpakkam with the same guideline value?

Other streets in Rajakilpakkam with the same guideline value of Rs 2,150 per sq.ft include Masoothy Colony 1st Street, 3rd Street, 4th Street, 5th Street, Kaveri Street, and Main Road.

How is the stamp duty calculated for properties in Masoothi Colony 2nd Street?

The stamp duty for properties in Masoothi Colony 2nd Street is calculated at 7% of the guideline value or sale price, whichever is higher. For example, for a plot valued at Rs 21,50,000, the stamp duty would be Rs 1,50,500.

Where can I find the Sub Registrar Office for Masoothi Colony 2nd Street?

The Sub Registrar Office for Masoothi Colony 2nd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.