Guideline Value for NEW MASQUE STREET

New Masque Street guideline value

The current guideline value of New Masque Street is Rs 500 per sq.ft, as per the 2023 revision. This street is located in Kovalam village and falls under the Thiruporur SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of New Masque Street has changed

The guideline value for New Masque Street has undergone several revisions over the years. In 2007, the guideline value was Rs 100 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012, marking a 400% increase. However, the value saw a decrease in the 2017 revision, dropping to Rs 335 per sq.ft, a decline of 33% from the previous figure. The most recent revision in 2023 brought the guideline value back up to Rs 500 per sq.ft, representing a 49% increase from 2017.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 400%. It is important to note that the register has no figures for this street for the years 2002, 2003, and 2024.

Guideline values in Kovalam

Currently, there are no specific guideline values provided for other streets in Kovalam. New Masque Street's guideline value stands at Rs 500 per sq.ft, reflecting its unique position within the area.

Stamp duty and registration fee for property in New Masque Street

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty is charged at 7%, which totals Rs 35,000, and the registration fee is charged at 2%, amounting to Rs 10,000. Therefore, the total cost for stamp duty and registration fees together is Rs 45,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers New Masque Street?

The Sub Registrar Office that covers New Masque Street is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. For more information, you can find your SRO.

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

When buying or selling property in Kovalam, the guideline value is a crucial factor in determining the applicable stamp duty and registration fees. The guideline value serves as a benchmark for the transaction and is used to calculate the taxes owed during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall costs associated with property transactions. Ensuring that the guideline value is accurately reflected in the sale agreement can help avoid potential disputes during registration.

Frequently asked questions

What is the current guideline value of New Masque Street?

The current guideline value of New Masque Street is Rs 500 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017, and returned to Rs 500 per sq.ft in 2023.

What are the stamp duty and registration fees for property in New Masque Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 5,00,000. The stamp duty at 7% is Rs 35,000 and the registration fee at 2% is Rs 10,000, resulting in a total of Rs 45,000 for both fees.

Which Sub Registrar Office covers New Masque Street?

The Thiruporur Sub Registrar Office covers New Masque Street, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

Are there other streets in Kovalam with guideline values?

Currently, there are no specific guideline values provided for other streets in Kovalam. New Masque Street is the only street mentioned with a guideline value of Rs 500 per sq.ft.