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 Sattamangalam village under the Chengleput Joint II SRO, classified as Residential Special Type - V.

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

Over the years, the guideline value of Kaithe Millath Street has seen several revisions. The earliest recorded figure is from 2012, where the guideline value was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017. In 2023, the value increased to Rs 1,200 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,320 per sq.ft. The register has no figure for this street in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Sattamangalam

Sattamangalam village has a total of 425 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 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 that 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 guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty, charged at 7%, would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total fees to 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.

For more information, you can use 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. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Sattamangalam. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable fees. This ensures that the registration reflects the true value of the property being transferred.

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?

Kaithe Millath Street is classified as Residential Special Type - V under the Chengleput Joint II SRO.

How does the guideline value compare to other streets in Sattamangalam?

The guideline value of Kaithe Millath Street is above the median value of Rs 1,100 per sq.ft for the 425 streets in Sattamangalam, which range from Rs 440 to Rs 2,200 per sq.ft.

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

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