Guideline Value for Kayithe Millath Nagar Pattu

Kayithe Millath Nagar Pattu guideline value

The current guideline value of Kayithe Millath Nagar Pattu is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in the village of Mangadu -A under the Kunrathur SRO, classified as Residential Special Type - III.

How the guideline value of Kayithe Millath Nagar Pattu has changed

The guideline value for Kayithe Millath Nagar Pattu has undergone several revisions over the years. The 2017 revision recorded a value of Rs 1,206 per sq.ft, which increased to Rs 1,800 per sq.ft in the 2023 revision. The current 2024 revision shows a further increase to Rs 1,980 per sq.ft, marking a 10% rise from the previous year.

From 2017 to 2023, there was a significant increase of 49%, and overall, from 2017 to 2024, the guideline value has risen by 64%. The register has no figures for this street for the years 2002, 2003, 2007, and 2012.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median value of Rs 1,870 per sq.ft. The guideline value of Kayithe Millath Nagar Pattu is above this median.

• Keezh Ragunathapuram: Rs 1,980 per sq.ft (2024)
• Kirubanandha Variar Nagar: Rs 1,870 per sq.ft (2024)
• K.K.Nagar: Rs 1,980 per sq.ft (2024)
• K.K. Nagar Colony Road: Rs 1,980 per sq.ft (2024)
• K.K. Nagar Ist Cross Street to VIII Cross st.: Rs 1,980 per sq.ft (2024)
• KarukkuMedu Colony: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Kayithe Millath Nagar Pattu

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. Note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kayithe Millath Nagar Pattu?

The Sub Registrar Office that covers Kayithe Millath Nagar Pattu is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value plays a crucial role during the registration process of property transactions in Mangadu -A. It is used to determine the stamp duty and registration fees applicable to the sale, ensuring that both parties are aware of the financial obligations involved in the transaction.

When buying or selling property, it is essential to refer to the latest guideline value to ensure compliance with local regulations. This value helps in assessing the fair amount of tax payable during the registration process, safeguarding the interests of both buyers and sellers.

Frequently asked questions

What is the current guideline value of Kayithe Millath Nagar Pattu?

The current guideline value of Kayithe Millath Nagar Pattu is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,206 per sq.ft in 2017 to Rs 1,800 per sq.ft in 2023, and then to Rs 1,980 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What are the stamp duty rates for properties in Kayithe Millath Nagar Pattu?

The stamp duty for properties in Kayithe Millath Nagar Pattu is charged at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600.

Which office handles property registrations for Kayithe Millath Nagar Pattu?

The Kunrathur Sub Registrar Office handles property registrations for Kayithe Millath Nagar Pattu. It is located at No.59, Road Street, Kundrathur, Chennai -600 069.

Are there other streets with similar guideline values in Mangadu -A?

Yes, there are several other streets in Mangadu -A with guideline values similar to Kayithe Millath Nagar Pattu. For instance, Keezh Ragunathapuram and K.K.Nagar both have a guideline value of Rs 1,980 per sq.ft in 2024.