Guideline Value for Kaide Millath Street

Kaide Millath Street guideline value

The current guideline value of Kaide Millath Street is Rs 950 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village under the Selaiyur SRO, classified as Residential Class IV Type - II.

How the guideline value of Kaide Millath Street has changed

In the 2012 revision, the guideline value was Rs 900 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 603 per sq.ft, marking a decline of 33%. The value then saw a significant increase to Rs 900 per sq.ft in the 2023 revision, followed by a rise to Rs 950 per sq.ft in the 2024 revision, which is a 6% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 6%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values for 2024 ranging from Rs 850 to Rs 6,500 per sq.ft. The median value is Rs 2,200 per sq.ft, indicating that the guideline value of Kaide Millath Street is below this median.

• Kalainjar Street: Rs 950 per sq.ft (2024)
• Kalaivani Street: Rs 950 per sq.ft (2024)
• Kalamegam Street: Rs 4,400 per sq.ft (2024)
• Kalamegam Street Extn: Rs 4,400 per sq.ft (2024)
• Kalidaser Street: Rs 2,200 per sq.ft (2024)
• Kalpana Nagar: Rs 950 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 guideline value of Rs 950 per sq.ft, the total guideline value would be Rs 9,50,000. The stamp duty at 7% would amount to Rs 66,500, and the registration fee at 2% would be Rs 19,000, bringing the total to Rs 85,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. 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 Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Selaiyur. It serves as a benchmark for calculating the stamp duty and registration fees that are payable during the property registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is used to determine the applicable taxes and fees. It is essential for both parties to understand that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring that the correct amount is paid during the registration process.

Frequently asked questions

What is the current guideline value of Kaide Millath Street?

The current guideline value of Kaide Millath Street is Rs 950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then back to Rs 900 per sq.ft in 2023, and finally to Rs 950 per sq.ft in 2024.

What is the land classification of Kaide Millath Street?

Kaide Millath Street is classified as Residential Class IV Type - II, indicating its designation for residential use.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 9,50,000, the stamp duty would be Rs 66,500 and the registration fee would be Rs 19,000, totaling Rs 85,500.

Which office handles the registration for Kaide Millath Street?

The Selaiyur Sub Registrar Office handles the registration for Kaide Millath Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.