Guideline Value for Millinium Town Road

Millinium Town Road guideline value

The current guideline value of Millinium Town Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Adayalampattu village under the Chennai South Joint II SRO and is classified as Residential Special Type - I.

How the guideline value of Millinium Town Road has changed

The guideline value for Millinium Town Road has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and the latest revision in 2024 raised it further to Rs 3,300 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, the guideline value experienced a substantial increase of 49%. The transition from 2023 to 2024 saw a further increase of 10%. Overall, when comparing the 2012 revision to the current 2024 figure, there has been a total increase of 10%.

Guideline values in Adayalampattu

Adayalampattu village features 19 streets under the Chennai South Joint II SRO, with guideline values ranging from Rs 1,650 to Rs 3,850 per sq.ft. The median value for these streets is Rs 2,420 per sq.ft, placing Millinium Town Road's 2024 figure above this median.

• Metro Royal City: Rs 3,300 per sq.ft (2024)
• MCK Nagar: Rs 2,420 per sq.ft (2024)
• Kulakkarai Street: Rs 2,420 per sq.ft (2024)
• Padasalai Street (1-5 st): Rs 2,200 per sq.ft (2024)
• Panajsalai Street: Rs 2,420 per sq.ft (2024)
• Kings Avenue: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Millinium Town Road

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

The Sub Registrar Office covering Millinium Town 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 further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Adayalampattu. It is used to determine the stamp duty and registration fees that must be paid to the government when a property is sold or purchased.

Frequently asked questions

What is the current guideline value of Millinium Town Road?

The current guideline value of Millinium Town 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 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Millinium Town Road?

Millinium Town Road is classified as Residential Special Type - I under the Chennai South Joint II SRO.

What are the stamp duty and registration fees for properties on this road?

For a property on Millinium Town Road, the stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Millinium Town Road?

The Chennai South Joint II Sub Registrar Office handles registrations for Millinium Town Road, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.