Guideline Value for MILLERS ROAD BLIND LANE

Millers Road Blind Lane guideline value

The current guideline value of Millers Road Blind Lane is Rs 9,300 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Millers Road Blind Lane has changed

The guideline value for Millers Road Blind Lane has seen several revisions over the years. The 2007 revision set the value at Rs 3,000 per sq.ft, which increased significantly to Rs 8,500 per sq.ft in the 2012 revision. However, it then decreased to Rs 5,695 per sq.ft in the 2017 revision, before rising to Rs 8,500 per sq.ft again in 2023. The most recent revision in 2024 has set the guideline value at Rs 9,300 per sq.ft.

Between the revisions, there have been notable changes. From 2017 to 2023, the value increased by 49%, and from 2023 to 2024, it rose by 9%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 210%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft, with a median value of Rs 5,500 per sq.ft. Millers Road Blind Lane's 2024 figure of Rs 9,300 per sq.ft is above this median.

• Millers Road: Rs 11,000 per sq.ft (2024)
• Millers Road Lane: Rs 10,900 per sq.ft (2024)
• Mookkathal Street: Rs 7,700 per sq.ft (2024)
• Mookku Chetty Street: Rs 6,000 per sq.ft (2024)
• Mothilal Nehru Street 1st Street: Rs 4,400 per sq.ft (2024)
• Menod Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Millers Road Blind Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 9,300 per sq.ft, the total guideline value amounts to Rs 93,00,000. The stamp duty at 7% would be Rs 6,51,000, and the registration fee at 2% would be Rs 1,86,000, bringing the total to Rs 8,37,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Millers Road Blind Lane?

The Sub Registrar Office that covers Millers Road Blind Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Purasaivakkam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for calculating the applicable duties.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which helps maintain transparency in the real estate market. It is advisable for buyers and sellers to consult the latest guideline values to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Millers Road Blind Lane?

The current guideline value of Millers Road Blind Lane is Rs 9,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 3,000 per sq.ft in 2007 to Rs 9,300 per sq.ft in 2024. The most notable increase occurred from 2017 to 2023, where it rose by 49%.

What is the land classification of Millers Road Blind Lane?

Millers Road Blind Lane is classified as Commercial Class I Type - II, indicating its use for commercial purposes.

Where can I find the Sub Registrar Office for Millers Road Blind Lane?

The Sub Registrar Office for Millers Road Blind Lane is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Millers Road Blind Lane?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 93,00,000, the stamp duty would be Rs 6,51,000 at a rate of 7%.