Guideline Value for MILLENNIUM SQUARE SECTOR-IV

Millennium Square Sector-IV guideline value

The current guideline value of Millennium Square Sector-IV is Rs 800 per sq.ft, effective from 1 July 2024. This area is located in Kattavakkam village under the Walajabad SRO, classified as Residential Special Type - I.

How the guideline value of Millennium Square Sector-IV has changed

The guideline value for Millennium Square Sector-IV has seen several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 536 per sq.ft. However, from 2017 to 2023, the value increased by 49% back to Rs 800 per sq.ft, and it has remained constant at this figure through the 2024 revision.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 800 per sq.ft.

Guideline values in Kattavakkam

In Kattavakkam, there are 19 streets under the Walajabad SRO with a 2024 guideline value ranging from Rs 300 to Rs 800 per sq.ft. The median value for these streets is Rs 400 per sq.ft, placing Millennium Square Sector-IV's 2024 figure above this median.

• Millenium Square Phase-I,II,III: Rs 400 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 Millennium Square Sector-IV

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, making the total cost for these fees Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Millennium Square Sector-IV?

The Sub Registrar Office that covers Millennium Square Sector-IV is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kattavakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a reference point, and the actual sale price cannot be lower than this value for registration purposes. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Millennium Square Sector-IV?

The current guideline value of Millennium Square Sector-IV is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 800 per sq.ft since 2012, with a decrease to Rs 536 per sq.ft in 2017 before returning to Rs 800 per sq.ft in 2023 and remaining the same in 2024.

What are the other streets in Kattavakkam and their guideline values?

Other streets in Kattavakkam have guideline values ranging from Rs 300 to Rs 800 per sq.ft. Millennium Square Sector-IV's value is above the median of Rs 400 per sq.ft for these streets.

What are the stamp duty and registration fees for property in Millennium Square Sector-IV?

For a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000 and the registration fee would be Rs 16,000, totaling Rs 72,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Millennium Square Sector-IV?

The Walajabad Sub Registrar Office handles the registration for Millennium Square Sector-IV, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.