Guideline Value for Milkfarm Road

Milkfarm Road guideline value

The current guideline value of Milkfarm Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Pattravakkam village, under the Konnur SRO, and is classified as Industries Type - I.

How the guideline value of Milkfarm Road has changed

The guideline value for Milkfarm Road has seen several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, it then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value rose to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as per the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 10%. The overall change from 2007 to 2024 reflects an increase of 313%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Pattravakkam

Pattravakkam village has 34 streets under the Konnur SRO with the 2024 guideline values ranging from Rs 1,100 to Rs 4,900 per sq.ft. The median value is Rs 1,500 per sq.ft, placing Milkfarm Road's value above this median.

• Menambedu Road: Rs 3,300 per sq.ft (2024)
• Mariamman Koil Street: Rs 1,100 per sq.ft (2024)
• Naresh Nagar: Rs 1,500 per sq.ft (2024)
• Lakshmi Colony: Rs 1,100 per sq.ft (2024)
• Kullakkarai Street: Rs 1,100 per sq.ft (2024)
• Krishna Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Milkfarm Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total Rs 2,97,000. Please 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 Milkfarm Road?

The Sub Registrar Office that covers Milkfarm Road is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property registration in Pattravakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, it is essential to consider the guideline value as it affects the stamp duty and registration fees. Buyers must pay these fees based on the guideline value or the sale price, whichever is higher, to complete the transaction legally.

Frequently asked questions

What is the current guideline value of Milkfarm Road?

The current guideline value of Milkfarm Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting a total increase of 313% over the years.

What are the stamp duty and registration fees for property in Milkfarm Road?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,97,000.

Which Sub Registrar Office covers Milkfarm Road?

The Konnur Sub Registrar Office covers Milkfarm Road, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the land classification of Milkfarm Road?

Milkfarm Road is classified as Industries Type - I, which indicates its suitability for industrial purposes.