Guideline Value for Masoothi Street

Masoothi Street guideline value

The current guideline value of Masoothi Street in Saligramam village, under the Virugambakkam SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - II land classification.

How the guideline value of Masoothi Street has changed

Over the years, the guideline value of Masoothi Street has seen several revisions. The earliest recorded figure is from 2002, where the value was Rs 859 per sq.ft. This increased to Rs 938 per sq.ft in 2003, marking a 9% rise. The value then saw a 17% increase to Rs 1,100 per sq.ft in 2007. By 2012, the value rose significantly by 127% to Rs 2,500 per sq.ft. However, between 2012 and 2017, there was a decrease of 33%, bringing the value down to Rs 1,675 per sq.ft. The value then increased by 49% to Rs 2,500 per sq.ft in 2023, and finally, it rose by 10% to the current figure of Rs 2,750 per sq.ft in 2024.

There are no recorded figures for the revisions in the years not mentioned in the provided data.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, indicating that the guideline value for Masoothi Street is below this median.

• Masoothi Garden 2nd Street: Rs 2,750 per sq.ft (2024)
• Masoothi Garden 1st Street: Rs 2,750 per sq.ft (2024)
• Mathiazhagan Nagar - Alagirisamy Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Anna Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Aranganathan Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Govindasamy Street: Rs 3,300 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 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty, charged at 7%, would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, the total cost for stamp duty and registration fees would be Rs 2,47,500. It is important to note that the 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 Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

When buying or selling property in Saligramam, the guideline value serves as a reference point for determining the stamp duty and registration fees applicable to the transaction. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations.

The guideline value is also used by the registration office to assess the value of the property being registered. This ensures that the fees are calculated based on an accurate representation of the property's value in the market.

Frequently asked questions

What is the current guideline value of Masoothi Street?

The current guideline value of Masoothi Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 859 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting a total increase of 220% over the years.

What is the land classification of Masoothi Street?

Masoothi Street falls under the Residential Class III Type - II land classification.

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

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated for properties?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000.