Guideline Value for Milk Depot Road

Milk Depot Road guideline value

The current guideline value of Milk Depot Road in Alamathi village is Rs 990 per sq.ft, effective from 1 July 2024. This area falls under the Redhills SRO and is classified as Residential Special Type - II.

How the guideline value of Milk Depot Road has changed

The guideline value for Milk Depot Road has seen significant changes over the years. From the 2003 revision, where it was just Rs 19 per sq.ft, it increased to Rs 200 per sq.ft in 2007, marking a substantial rise of 953%. The value then jumped to Rs 900 per sq.ft in 2012, reflecting a 350% increase. However, it decreased to Rs 603 per sq.ft in 2017, a drop of 33%. The most recent revisions show a rise to Rs 900 per sq.ft in 2023, followed by another increase to Rs 990 per sq.ft in 2024, which is a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 5111%. The register does not contain figures for the year 2002 for this street.

Guideline values in Alamathi

In Alamathi, there are 54 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 440 to Rs 1,100 per sq.ft, with a median value of Rs 550 per sq.ft. The guideline value for Milk Depot Road is above this median, indicating a higher valuation compared to many other streets in the area.

• Mother Therasa Garden: Rs 550 per sq.ft (2024)
• Mother Therasa Garden Phase - III: Rs 550 per sq.ft (2024)
• Munthiripalayam Road: Rs 550 per sq.ft (2024)
• Nallur Road: Rs 550 per sq.ft (2024)
• New Star City: Rs 550 per sq.ft (2024)
• New Star City Annex: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Milk Depot Road

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, making the total cost for these fees Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Milk Depot Road?

The Milk Depot Road is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Alamathi. It is the benchmark used to assess the value of a property for registration purposes. When a property is sold, the guideline value is referenced to determine the applicable stamp duty and registration fees.

Buyers and sellers must be aware that the guideline value may differ from the actual sale price. The registration fees and stamp duty are calculated based on the higher of the two values, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Milk Depot Road?

The current guideline value of Milk Depot Road is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 19 per sq.ft in 2003 to Rs 990 per sq.ft in 2024, showing an increase of 5111% overall.

What is the classification of land on Milk Depot Road?

The land classification for Milk Depot Road is Residential Special Type - II, indicating its designated use for residential purposes.

Where is the Sub Registrar Office for Milk Depot Road located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 9,90,000, the total fees would amount to Rs 89,100.