Guideline Value for Military Dairyfarm Road

Military Dairyfarm Road guideline value

The current guideline value of Military Dairyfarm Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This road is located in Parangimalai village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Military Dairyfarm Road has changed

Since the 2002 revision, the guideline value of Military Dairyfarm Road has seen significant changes. In 2002, the guideline value was Rs 236 per sq.ft. It increased to Rs 1,085 per sq.ft in 2003, marking a substantial rise of 360%. The value continued to grow, reaching Rs 1,600 per sq.ft in 2007, which was a 47% increase. By 2012, the value was Rs 3,500 per sq.ft, reflecting a 119% increase. However, it decreased to Rs 2,345 per sq.ft in 2017, a decline of 33%. The value then rose again to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024, a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1531%. There are no figures available for any other revisions for Military Dairyfarm Road.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median value is Rs 3,850 per sq.ft, which is the same as the current value for Military Dairyfarm Road.

• Military Dairyfarm Road 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• M.K.N Road: Rs 5,500 per sq.ft (2024)
• M.K.N. Road 1st Street: Rs 5,500 per sq.ft (2024)
• M.K.N.Road 3nd Street: Rs 5,500 per sq.ft (2024)
• M.K.Road Ist Lane / Iind Lane: Rs 5,500 per sq.ft (2024)
• M.G.R. Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Military Dairyfarm Road

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Military Dairyfarm Road?

The Sub Registrar Office that covers Military Dairyfarm Road is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Parangimalai. It determines the minimum value at which the property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, it is essential to be aware of the guideline value as it ensures compliance with legal requirements during the registration process. The guideline value reflects the official valuation set by the government and is used to safeguard the interests of all parties involved in the transaction.

Frequently asked questions

What is the current guideline value of Military Dairyfarm Road?

The current guideline value of Military Dairyfarm Road is Rs 3,850 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 236 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 1531% over the years.

What is the land classification for Military Dairyfarm Road?

The land classification for Military Dairyfarm Road is Residential Class II Type - I, indicating the type of development permissible in this area.

Where can I find the Sub Registrar Office for Military Dairyfarm Road?

The Sub Registrar Office for Military Dairyfarm Road is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in Military Dairyfarm Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,50,000, the stamp duty at 7% would be Rs 2,69,500.