Guideline Value for QUAID MILLETH 3RD STREET

Quaid Milleth 3rd Street guideline value

The current guideline value of Quaid Milleth 3rd 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, classified as Residential Class IV Type - I.

How the guideline value of Quaid Milleth 3rd Street has changed

The guideline value for Quaid Milleth 3rd Street has undergone several revisions over the years. The most recent revision in 2024 sets the value at Rs 1,700 per sq.ft, an increase from Rs 1,500 per sq.ft in 2023, marking a change of 13%. Prior to that, in 2017, the value was Rs 1,005 per sq.ft, indicating a significant increase of 49% from 2017 to 2023 and an overall increase of 69% from 2017 to 2024.

It is important to note that there are no figures available for this street in the revisions from the years 2002, 2003, 2007, and 2012.

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 value for these streets is Rs 2,200 per sq.ft, placing Quaid Milleth 3rd Street's 2024 figure below this median.

• Quaid Milleth 1st Street: Rs 1,700 per sq.ft (2024)
• Quaid Milleth 2nd 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total 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, resulting in a total of Rs 1,53,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Quaid Milleth 3rd Street?

The Sub Registrar Office that covers Quaid Milleth 3rd 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 details.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor during the registration of property transactions in Sholinganallur - 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Quaid Milleth 3rd Street?

The current guideline value of Quaid Milleth 3rd Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,005 per sq.ft in 2017 to Rs 1,700 per sq.ft in 2024, reflecting a total increase of 69% over this period.

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

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which office handles the registration for this area?

The Neelankarai Sub Registrar Office handles the registration for Quaid Milleth 3rd Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification of Quaid Milleth 3rd Street?

Quaid Milleth 3rd Street is classified as Residential Class IV Type - I, indicating its suitability for residential purposes.