Guideline Value for MILLENIUM SQUARE PHASE-I,II,III

Millenium Square Phase-I,II,III guideline value

The current guideline value of Millenium Square Phase-I,II,III is Rs 400 per sq.ft, effective from 1 July 2024. This property is located in Kattavakkam village, under the Walajabad Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Millenium Square Phase-I,II,III has changed

The guideline value for Millenium Square Phase-I,II,III has undergone several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 400 per sq.ft. The 2017 revision recorded a lower value of Rs 268 per sq.ft, marking a decrease of 33% from the 2012 figure. Between 2017 and 2023, there was a significant increase of 49%, bringing the value back to Rs 400 per sq.ft.

As of the latest 2024 revision, the guideline value remains at Rs 400 per sq.ft, indicating no change from the previous year. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kattavakkam

Kattavakkam village has a range of guideline values across its 19 streets under the Walajabad SRO, with values varying from Rs 300 to Rs 800 per sq.ft. The median value is Rs 400 per sq.ft, which aligns with the guideline value of Millenium Square Phase-I,II,III.

• Millennium Square Sector-IV: Rs 800 per sq.ft (2024)
• Ponniamman Nagar Ext-II: Rs 400 per sq.ft (2024)
• Ponniamman Nagr: Rs 400 per sq.ft (2024)
• Jemi Golden City: Rs 350 per sq.ft (2024)
• Iyappa Nagar: Rs 300 per sq.ft (2024)
• Shree Sai Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Millenium Square Phase-I,II,III

For a 1,000 sq.ft plot at the current rate of Rs 400 per sq.ft, the guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Millenium Square Phase-I,II,III?

The Millenium Square Phase-I,II,III is covered by the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Kattavakkam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the sale or purchase of property.

When buying or selling property, it is essential to consider the guideline value as it can affect the overall costs involved. The registration authorities use this value to ensure that the correct fees are collected based on the property's worth as established in the guideline value register.

Frequently asked questions

What is the current guideline value for Millenium Square Phase-I,II,III?

The current guideline value for Millenium Square Phase-I,II,III is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the 2012 revision at Rs 400 per sq.ft, dropping to Rs 268 per sq.ft in 2017, and returning to Rs 400 per sq.ft in 2023 and 2024.

What is the land classification for Millenium Square Phase-I,II,III?

The land classification for Millenium Square Phase-I,II,III is Residential Class I Type - I.

Where is the Walajabad Sub Registrar Office located?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 4,00,000 would incur a stamp duty of Rs 28,000 at 7%.