Guideline Value for Masoothy Colony 5th Street

Masoothy Colony 5th Street guideline value

The current guideline value of Masoothy Colony 5th 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 Masoothy Colony 5th Street has changed

Over the years, the guideline value for Masoothy Colony 5th Street has seen several revisions. 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. The 2023 revision increased it to Rs 2,000 per sq.ft, followed by the current 2024 revision, which raised it to Rs 2,150 per sq.ft. Notably, the register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The overall change from 2012 to 2024 reflects an increase of 8%.

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 among these streets is Rs 2,150 per sq.ft, which is the same as the guideline value for Masoothy Colony 5th Street.

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

Stamp duty and registration fee for property in Masoothy Colony 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,150 per sq.ft, the total guideline value amounts to Rs 21,50,000. The stamp duty at 7% would be Rs 1,50,500, and the registration fee at 2% would be Rs 43,000, bringing the total to Rs 1,93,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Masoothy Colony 5th Street?

The Sub Registrar Office that covers Masoothy Colony 5th 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 plays a crucial role in property transactions in Rajakilpakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration. This ensures that the transaction is recorded accurately and legally.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the cost of registration. Understanding this value can help in budgeting for the total expenses involved in a property transaction.

Frequently asked questions

What is the current guideline value of Masoothy Colony 5th Street?

The current guideline value of Masoothy Colony 5th 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 back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,150 per sq.ft in 2024.

What is the land classification for Masoothy Colony 5th Street?

Masoothy Colony 5th Street is classified as Residential Class I Type - I.

Where is the Selaiyur Sub Registrar Office located?

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

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 21,50,000 would incur a stamp duty of Rs 1,50,500 at 7%.