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 Peramanoor village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

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

The guideline value for Kaithe Millath Street has seen several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017, marking a decline of 33%. The value then increased significantly to Rs 1,200 per sq.ft in 2023, and further rose to Rs 1,320 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Kaithe Millath Street. Overall, from 2012 to 2024, the guideline value has increased by 10%, with a notable increase of 49% from 2017 to 2023.

Guideline values in Peramanoor

In Peramanoor, there are a total of 430 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 550 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Kaithe Millath Street's 2024 figure above this median.

• Kalaignar Karunanithi Nagar (Ward -2): Rs 550 per sq.ft (2024)
• Kaaraikazhani (Ward -2): Rs 550 per sq.ft (2024)
• Kaanthaliamman Koil Street (Ward -15): Rs 660 per sq.ft (2024)
• J.V.Avenue (Ward -19): Rs 661 per sq.ft (2024)
• Kalaimagal Nagar, Ninnakarai (Ward -19): Rs 661 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 guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400. Together, the total cost for these fees would be 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 costs using the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Kaithe Millath Street (Ward -8) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is crucial when buying or selling property in Peramanoor, as it determines the minimum value at which a property can be registered. This value is used to calculate stamp duty and registration fees, which are mandatory during the transaction process.

When you approach the registration office, the guideline value will be referenced to ensure that the property is registered at a fair value according to the local regulations. This ensures transparency and compliance with the legal framework governing property transactions.

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 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Kaithe Millath Street?

The land classification for Kaithe Millath Street (Ward -8) is Residential Special Type - V.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same amount. For example, for a 1,000 sq.ft plot at Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000, leading to a stamp duty of Rs 92,400 and a registration fee of Rs 26,400.