Guideline Value for Masoothi Street

Masoothi Street guideline value

The current guideline value of Masoothi Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village, under the Padappai SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Masoothi Street has changed

The guideline value of Masoothi Street has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a rise of 500%. However, it then decreased to Rs 1,005 per sq.ft in 2017, a drop of 33%. Following this, the value rose to Rs 1,500 per sq.ft in 2023, and most recently, it increased to Rs 1,650 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for Masoothi Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 560%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value is Rs 2,310 per sq.ft, placing Masoothi Street's 2024 figure below this median.

• M.A.V.Ramraja Avenue: Rs 2,970 per sq.ft (2024)
• Medo Villas: Rs 3,960 per sq.ft (2024)
• Meenakshi Avenue: Rs 1,980 per sq.ft (2024)
• Maraimalai Adikal Street: Rs 2,310 per sq.ft (2024)
• MA.PO.SI. Street: Rs 1,980 per sq.ft (2024)
• Meera Nagar: Rs 1,980 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 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Masoothi Street?

The Sub Registrar Office that covers Masoothi Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Perungalathur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and compliance with local regulations.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Masoothi Street?

The current guideline value of Masoothi Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 560% over the years.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,48,500.

Which office handles property registrations in Perungalathur?

The Padappai Sub Registrar Office is responsible for property registrations in Perungalathur, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value of properties and to calculate applicable stamp duty and registration fees during property transactions.