Guideline Value for Kaithe Millath Street

Kaithe Millath Street guideline value

The current guideline value of Kaithe Millath Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kaithe Millath Street has changed

The guideline value for Kaithe Millath Street has seen several revisions over the years. In the 2007 revision, the guideline value was Rs 1,000 per sq.ft. This increased to Rs 2,500 per sq.ft in the 2012 revision, marking a significant rise of 150%. However, the value then decreased to Rs 1,675 per sq.ft in the 2017 revision, reflecting a decline of 33%. The subsequent revision in 2023 saw a substantial increase to Rs 2,500 per sq.ft, followed by an 8% rise to the current value of Rs 2,700 per sq.ft in 2024.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 170%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Kaithe Millath Street's 2024 guideline value is below this median.

• Kadappa Road: Rs 2,700 per sq.ft (2024)
• Kaalappa Naicken Street: Rs 2,700 per sq.ft (2024)
• Kalaimagal Nagar: Rs 2,700 per sq.ft (2024)
• Kalainger Karunanithi Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Kalainger Karunanithi Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Kalainger Karunanithi Nagar 3rd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kaithe Millath Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty, charged at 7%, would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for stamp duty and registration would be Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kaithe Millath Street?

Kaithe Millath Street falls under the jurisdiction of the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kolathur. It serves as the basis for calculating stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kaithe Millath Street?

The current guideline value of Kaithe Millath Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 170% over this period.

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

The stamp duty for a property valued at Rs 27,00,000 would be Rs 1,89,000, and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which Sub Registrar Office covers Kaithe Millath Street?

Kaithe Millath Street is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification of Kaithe Millath Street?

Kaithe Millath Street is classified as Residential Class II Type - I, indicating its suitability for residential development.