Guideline Value for KAITHE MILLATH STREET (WARD -8)

Kaithe Millath Street (Ward -8) guideline value

The current guideline value of Kaithe Millath Street (Ward -8) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Kattankollatur village and falls under the Chengleput Joint II SRO, classified as Residential Special Type - V.

How the guideline value of Kaithe Millath Street (Ward -8) has changed

The guideline value for Kaithe Millath Street has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 1,320 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 1,200 per sq.ft. Prior to that, the 2017 revision recorded a guideline value of Rs 804 per sq.ft, reflecting a significant increase of 49% leading up to 2023. The 2012 revision also listed the value at Rs 1,200 per sq.ft, marking a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that the register has no figures for Kaithe Millath Street in the years 2002, 2003, and 2007. This lack of data means that the earliest recorded guideline value for this street is from 2012.

Guideline values in Kattankollatur

Kattankollatur has a total of 453 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,612 per sq.ft in 2024. The median guideline value for the village is Rs 1,100 per sq.ft, placing Kaithe Millath Street's 2024 figure above this median.

• Kalaignar Karunanithi Nagar (Ward -2): Rs 440 per sq.ft (2024)
• Kaaraikazhani (Ward -2): Rs 440 per sq.ft (2024)
• Kaanthaliamman Koil Street (Ward -15): Rs 550 per sq.ft (2024)
• J.V.Avenue (Ward -19): Rs 660 per sq.ft (2024)
• Kalaimagal Nagar, Ninnakarai (Ward -19): Rs 660 per sq.ft (2024)
• Jrk School (N): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Kaithe Millath Street (Ward -8)

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, while the registration fee at 2% would be Rs 26,400, resulting in a total of Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kaithe Millath Street (Ward -8)?

The Sub Registrar Office covering Kaithe Millath Street is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Kattankollatur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the valuation of the property. It is essential for buyers to be aware of the guideline value to avoid overpaying, while sellers should consider it to set a competitive price for their property.

Frequently asked questions

What is the current guideline value of Kaithe Millath Street (Ward -8)?

The current guideline value of Kaithe Millath Street (Ward -8) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024, reflecting a 10% increase. From 2017 to 2023, it increased by 49% from Rs 804 per sq.ft.

What is the land classification of Kaithe Millath Street?

Kaithe Millath Street is classified as Residential Special Type - V, which indicates its intended use for residential purposes.

Where can I find the Sub Registrar Office for Kaithe Millath Street?

The Sub Registrar Office for Kaithe Millath Street is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Kaithe Millath Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 13,20,000 would incur a stamp duty of Rs 92,400.