Guideline Value for QUAID MILLETH 2ND STREET

Quaid Milleth 2nd Street guideline value

The current guideline value of Quaid Milleth 2nd Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Quaid Milleth 2nd Street has changed

The guideline value for Quaid Milleth 2nd Street has undergone several revisions over the years. In 2002, the value was Rs 305 per sq.ft, which increased to Rs 341 per sq.ft in 2003, marking a 12% rise. The value saw a significant increase to Rs 1,000 per sq.ft in 2007, which was a 193% change. Following this, the value rose to Rs 2,500 per sq.ft in 2012, reflecting a 150% increase. However, there was a decrease to Rs 1,675 per sq.ft in 2017, which was a 33% drop. The value then rose again to Rs 2,500 per sq.ft in 2023, a 49% increase, before reaching the current value of Rs 2,800 per sq.ft in 2024, which is a 12% increase.

There are no figures available for the revisions between the years that do not list a specific value for this street.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Quaid Milleth 2nd Street is below this median.

• Quaid Milleth 1st Street: Rs 2,800 per sq.ft (2024)
• Quaid Milleth Street: Rs 2,800 per sq.ft (2024)
• Radhakrishanan Street: Rs 1,700 per sq.ft (2024)
• Radha Krishnan Road: Rs 1,700 per sq.ft (2024)
• Pushpa Avenue: Rs 3,300 per sq.ft (2024)
• P.R.S. Nagar: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Quaid Milleth 2nd Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 28,00,000. The stamp duty at 7% amounts to Rs 1,96,000, and the registration fee at 2% is Rs 56,000, making the total Rs 2,52,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Quaid Milleth 2nd Street?

The Sub Registrar Office that covers Quaid Milleth 2nd Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Palavakkam. It serves as a reference point for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Quaid Milleth 2nd Street?

The current guideline value of Quaid Milleth 2nd Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 305 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 818% over the years.

What is the classification of land on Quaid Milleth 2nd Street?

Quaid Milleth 2nd Street is classified as Residential Class III Type - I.

Where can I find the registration office for this street?

The registration office covering Quaid Milleth 2nd Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties on this street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would amount to Rs 1,96,000.