Guideline Value for KAIDE MILLATH STREET

Kaide Millath Street guideline value

The current guideline value of Kaide Millath Street is Rs 500 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village and falls under the Manavalanagar SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Kaide Millath Street has changed

Over the years, the guideline value of Kaide Millath Street has undergone several revisions. The earliest recorded figure is from 2007, where the value was Rs 125 per sq.ft. This increased significantly to Rs 500 per sq.ft in 2012, marking a 300% rise. However, between 2012 and 2017, the value decreased to Rs 335 per sq.ft, reflecting a drop of 33%. From 2017 to 2023, the value rose to Rs 500 per sq.ft, which is a 49% increase. The current guideline value remains at Rs 500 per sq.ft as per the 2024 revision.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for Kaide Millath Street. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 1,000 per sq.ft, placing Kaide Millath Street's 2024 figure below that median.

• Kalaivanar Street: Rs 500 per sq.ft (2024)
• Jegan Street: Rs 700 per sq.ft (2024)
• Jeevanantham Street: Rs 1,300 per sq.ft (2024)
• Kamaraj Street: Rs 1,300 per sq.ft (2024)
• Kamaraj Street (Kabilar Nagar): Rs 1,300 per sq.ft (2024)
• K.A.Mathiazhagan Street: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Kaide Millath Street

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kaide Millath Street?

The Sub Registrar Office that covers Kaide Millath Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vengathur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be used for calculating the applicable fees.

When registering a property, it is essential to refer to the current guideline value to ensure compliance with local regulations. This value is periodically revised, reflecting changes in the real estate market and land classification.

Frequently asked questions

What is the current guideline value of Kaide Millath Street?

The current guideline value of Kaide Millath Street is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 125 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreasing to Rs 335 per sq.ft in 2017, and finally returning to Rs 500 per sq.ft in 2023 and 2024.

What is the median guideline value in Vengathur?

The median guideline value in Vengathur is Rs 1,000 per sq.ft, while Kaide Millath Street's current value is below this median.

What are the stamp duty and registration fees for a property in Kaide Millath Street?

For a 1,000 sq.ft property at the current guideline value of Rs 500 per sq.ft, the total stamp duty and registration fees would amount to Rs 45,000.

Where is the Sub Registrar Office for Kaide Millath Street located?

The Sub Registrar Office for Kaide Millath Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.