Guideline Value for Masoothi Street

Masoothi Street guideline value

The current guideline value of Masoothi Street is Rs 1,500 per sq.ft, effective from 1 July 2024. This street is located in Gooduvancheri village, under the Gooduvancheri SRO, and is classified as Residential Special 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 2017 revision set the value at Rs 1,005 per sq.ft, which remained unchanged at Rs 1,500 per sq.ft in the 2023 revision. The most recent revision in 2024 also maintains the value at Rs 1,500 per sq.ft, indicating no change from the previous year. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2017 to 2024, it has also increased by 49%. The consistent value of Rs 1,500 per sq.ft in both 2023 and 2024 suggests stability in the guideline value for this street in recent times.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value is Rs 1,500 per sq.ft, which aligns with the current value of Masoothi Street.

• Meenakshi Nagar (Near G.S.T. Road): Rs 3,500 per sq.ft (2024)
• Meenakshi Nagar (S.No. 174/1 -6): Rs 2,001 per sq.ft (2024)
• Manimegalai Street: Rs 2,001 per sq.ft (2024)
• M.G.R. Nagar: Rs 1,200 per sq.ft (2024)
• Mangal Nagar: Rs 2,001 per sq.ft (2024)
• M.K. Nagar: Rs 1,500 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 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total cost for these fees to Rs 1,35,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, 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 Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Gooduvancheri, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value is used to calculate stamp duty and registration fees, which are essential costs associated with property transactions. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Masoothi Street?

The current guideline value of Masoothi Street is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Masoothi Street was Rs 1,005 per sq.ft in 2017 and has increased to Rs 1,500 per sq.ft in both 2023 and 2024, reflecting a 49% increase overall from 2017 to 2024.

What are the other streets in Gooduvancheri and their guideline values?

Other streets in Gooduvancheri include Meenakshi Nagar (Near G.S.T. Road) at Rs 3,500 per sq.ft, Meenakshi Nagar (S.No. 174/1 -6) at Rs 2,001 per sq.ft, and several others with varying values.

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

For a 1,000 sq.ft property at the guideline value of Rs 1,500 per sq.ft, the total guideline value is Rs 15,00,000. The stamp duty would be Rs 1,05,000 and the registration fee would be Rs 30,000, totaling Rs 1,35,000.

Which office handles the registration for Masoothi Street?

The registration for Masoothi Street is handled by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.