Guideline Value for Masoothy Colony Main Road

Masoothy Colony Main Road guideline value

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

How the guideline value of Masoothy Colony Main Road has changed

The guideline value for Masoothy Colony Main Road has seen several revisions over the years. In 2012, the guideline value was set at Rs 2,000 per sq.ft. This figure remained the same until the 2017 revision, where it decreased to Rs 1,340 per sq.ft, marking a decline of 33%. The value then increased to Rs 2,000 per sq.ft in 2012, followed by a significant rise to Rs 2,000 per sq.ft in 2023, and finally reaching Rs 2,150 per sq.ft in 2024, which is an increase of 8% from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a net increase of 8%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register 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, with the median value being Rs 2,150 per sq.ft. The guideline value for Masoothy Colony Main Road aligns with this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,150 per sq.ft, the 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, totaling 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 more detailed calculations.

Which Sub Registrar Office covers Masoothy Colony Main Road?

The Sub Registrar Office that covers Masoothy Colony Main Road 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

When buying or selling property in Rajakilpakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is used as a reference point for these calculations, ensuring that the fees are based on a standardized valuation set by the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall costs involved in property transactions. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Masoothy Colony Main Road?

The current guideline value of Masoothy Colony Main Road is Rs 2,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

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 are the stamp duty and registration fees for property in Masoothy Colony Main Road?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,93,500, which includes a stamp duty of Rs 1,50,500 and a registration fee of Rs 43,000.

Which office handles registrations for Masoothy Colony Main Road?

The Selaiyur Sub Registrar Office handles registrations for Masoothy Colony Main Road, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

What is the significance of guideline value in property transactions?

The guideline value is significant in property transactions as it determines the stamp duty and registration fees that buyers and sellers must pay. It serves as a standardized valuation set by the government to ensure fair pricing in property dealings.