Guideline Value for Musleem Colony Ward No.5 Door No.1-28

Musleem Colony Ward No.5 Door No.1-28 guideline value

The current guideline value for Musleem Colony Ward No.5 Door No.1-28 is Rs 660 per sq.ft. This property is located in Old Gummidipoondi village under the Gummidipoondi SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Musleem Colony Ward No.5 Door No.1-28 has changed

The guideline value for Musleem Colony Ward No.5 Door No.1-28 has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 190 per sq.ft, which increased to Rs 216 per sq.ft in 2003. Following this, the value rose significantly to Rs 400 per sq.ft in 2007, and then to Rs 600 per sq.ft in 2012. However, there was a decrease to Rs 402 per sq.ft in 2017.

In the subsequent revisions, the guideline value increased to Rs 600 per sq.ft in 2023 and reached Rs 660 per sq.ft in the 2024 revision, effective from 1 July 2024. The changes between these revisions include a 10% increase from 2023 to 2024 and a 49% increase from 2017 to 2023. The overall increase from 2002 to 2024 is 247%.

Guideline values in Old Gummidipoondi

In Old Gummidipoondi, there are 90 streets under the Gummidipoondi SRO that carry a 2024 guideline value, ranging from Rs 220 to Rs 1,210 per sq.ft. The median guideline value is Rs 660 per sq.ft, which is equal to the current value for Musleem Colony Ward No.5 Door No.1-28.

• Musleem Colony Ward No.4 Door No.1-16: Rs 660 per sq.ft (2024)
• Muniswaran Koil Street Ward No.10 Door No.1-15f: Rs 660 per sq.ft (2024)
• Milagai Chedi Kulam: Rs 660 per sq.ft (2024)
• Nattanmaikara Street Ward No.1 Door No.1-57: Rs 330 per sq.ft (2024)
• Mettu Street Ward No.2 Door No.1-81: Rs 330 per sq.ft (2024)
• Mettu Colony Ward No.5 Door No.1-70: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Musleem Colony Ward No.5 Door No.1-28

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, resulting in a total cost of Rs 59,400. Please 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 Musleem Colony Ward No.5 Door No.1-28?

The Sub Registrar Office covering Musleem Colony Ward No.5 Door No.1-28 is the Gummidipoondi Sub Registrar Office, located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Old Gummidipoondi. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees. This value is essential for both buyers and sellers to understand the financial implications of their transactions.

At the time of registration, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue based on the property's value, whether it is the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value for Musleem Colony Ward No.5 Door No.1-28?

The current guideline value for Musleem Colony Ward No.5 Door No.1-28 is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 190 per sq.ft in 2002 to Rs 660 per sq.ft in 2024, showing an overall increase of 247% over the years.

What are the stamp duty rates for properties in Musleem Colony Ward No.5 Door No.1-28?

The stamp duty for properties in Musleem Colony Ward No.5 Door No.1-28 is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Gummidipoondi Sub Registrar Office located?

The Gummidipoondi Sub Registrar Office is located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone.

What is the land classification for Musleem Colony Ward No.5 Door No.1-28?

The land classification for Musleem Colony Ward No.5 Door No.1-28 is Residential Class II Type - I.