Guideline Value for Milagai Chedi Kulam

Milagai Chedi Kulam guideline value

The current guideline value of Milagai Chedi Kulam is Rs 660 per sq.ft. This street is located in Old Gummidipoondi village, under the Gummidipoondi SRO, and is classified as Residential Class II Type - I.

How the guideline value of Milagai Chedi Kulam has changed

The guideline value for Milagai Chedi Kulam has undergone several revisions over the years. The earliest recorded figure is Rs 154 per sq.ft in 2002, which increased to Rs 176 per sq.ft in 2003, marking a rise of 14%. Subsequently, the value rose significantly to Rs 400 per sq.ft in 2007, reflecting an increase of 127%. In 2012, the value remained at Rs 600 per sq.ft, but then dropped by 33% to Rs 402 per sq.ft in 2017. The value saw a substantial increase of 49% to Rs 600 per sq.ft in 2023, and finally, the current value is Rs 660 per sq.ft from the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 329%. There are no figures available for the revisions in the years not mentioned in this article.

Guideline values in Old Gummidipoondi

In Old Gummidipoondi, there are 90 streets under the Gummidipoondi SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 1,210 per sq.ft. The median value is Rs 660 per sq.ft, which is equal to the current guideline value of Milagai Chedi Kulam.

• Mettu Street Ward No.2 Door No.1-81: Rs 330 per sq.ft (2024)
• Mettu Colony Ward No.5 Door No.1-70: Rs 660 per sq.ft (2024)
• Mettu Colony IInd Road: Rs 660 per sq.ft (2024)
• Mettu Colony Burial Road: Rs 660 per sq.ft (2024)
• Muniswaran Koil Street Ward No.10 Door No.1-15f: Rs 660 per sq.ft (2024)
• Musleem Colony Ward No.4 Door No.1-16: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Milagai Chedi Kulam

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. 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 Milagai Chedi Kulam?

The Milagai Chedi Kulam area is covered by the Gummidipoondi Sub Registrar Office, located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone. You can find your SRO here.

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

The guideline value is a critical factor when buying or selling property in Old Gummidipoondi. It serves as a benchmark for determining the minimum value at which property transactions can be registered. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Milagai Chedi Kulam?

The current guideline value of Milagai Chedi Kulam is Rs 660 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 154 per sq.ft in 2002 to Rs 660 per sq.ft in 2024, reflecting an overall increase of 329% over the years.

What is the land classification for Milagai Chedi Kulam?

Milagai Chedi Kulam is classified as Residential Class II Type - I.

Where can I find the Gummidipoondi Sub Registrar Office?

The Gummidipoondi Sub Registrar Office is located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. These fees are based on the higher of the guideline value or the sale price.