Guideline Value for QUAID MILLETH 2ND STREET

Quaid Milleth 2nd Street guideline value

The current guideline value of Quaid Milleth 2nd Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 and falls under the Neelankarai SRO. The land classification for this area is Residential Class IV Type - I.

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

The guideline value of Quaid Milleth 2nd Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,700 per sq.ft, an increase from Rs 1,500 per sq.ft in 2023, marking a 13% rise. Prior to that, the 2017 revision recorded a value of Rs 1,005 per sq.ft, which means there was a significant increase of 49% when comparing it to the 2023 figure. Overall, from 2017 to 2024, the guideline value has risen by 69%.

It is important to note that the guideline value register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Thus, the only available revisions are from 2017, 2023, and 2024.

Guideline values in Sholinganallur - 1

In the village of Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for the area is Rs 2,200 per sq.ft, making the current value of Quaid Milleth 2nd Street below that median.

• Quaid Milleth 3rd Street: Rs 1,700 per sq.ft (2024)
• Quaid Milleth 1st Street: Rs 1,700 per sq.ft (2024)
• Quaid Milleth 4th Street: Rs 1,700 per sq.ft (2024)
• Quaid Milleth 5th Street: Rs 1,700 per sq.ft (2024)
• Quaid Milleth Extention: Rs 1,700 per sq.ft (2024)
• Quaid Milleth Street: Rs 1,700 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 of Rs 1,700 per sq.ft, the guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. 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 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 Sholinganallur - 1

The guideline value is a crucial factor in the property registration process in Sholinganallur - 1. It determines the minimum value at which a property can be registered, and it is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value serves as a benchmark for both buyers and sellers. It ensures that the transaction is recorded at a value that reflects the official assessment of the property’s worth as per the local regulations.

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 1,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,005 per sq.ft to Rs 1,700 per sq.ft in 2024, which is a total increase of 69% over the years.

What are the stamp duty and registration fees for a property on this street?

For a 1,000 sq.ft property at the current guideline value, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which Sub Registrar Office covers this area?

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

Are there other streets with the same guideline value in the area?

Yes, several other streets in Sholinganallur - 1 have the same guideline value of Rs 1,700 per sq.ft, including Quaid Milleth 1st, 3rd, 4th, 5th Streets, and Quaid Milleth Extention.