Guideline Value for QUAID MILLETH 5TH STREET

Quaid Milleth 5th Street guideline value

The current guideline value of Quaid Milleth 5th 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 5th Street has changed

The guideline value of Quaid Milleth 5th Street has seen significant changes over the years. In the 2017 revision, the guideline value was Rs 1,005 per sq.ft. This increased to Rs 1,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision has set the value at Rs 1,700 per sq.ft, reflecting a 13% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, there has been a total increase of 69%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In 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, making the guideline value of Quaid Milleth 5th Street below this median.

• Quaid Milleth 4th Street: Rs 1,700 per sq.ft (2024)
• Quaid Milleth Extention: Rs 1,700 per sq.ft (2024)
• Quaid Milleth 3rd Street: Rs 1,700 per sq.ft (2024)
• Quaid Milleth 2nd Street: Rs 1,700 per sq.ft (2024)
• Quaid Milleth Street: Rs 1,700 per sq.ft (2024)
• Quaid Milleth 1st Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Quaid Milleth 5th 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, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Quaid Milleth 5th Street?

The Sub Registrar Office that covers Quaid Milleth 5th 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 additional information.

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

When buying or selling property in Sholinganallur - 1, the guideline value is a crucial factor used during the registration process. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction.

The guideline value ensures that the property is registered at a price that reflects its official value, helping to maintain transparency in real estate transactions. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Quaid Milleth 5th Street?

The current guideline value of Quaid Milleth 5th 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 increased from Rs 1,005 per sq.ft in 2017 to Rs 1,700 per sq.ft in 2024, which is a total increase of 69% over this period.

What is the land classification for Quaid Milleth 5th Street?

Quaid Milleth 5th Street is classified as Residential Class IV Type - I.

What is the median guideline value in Sholinganallur - 1?

The median guideline value for streets in Sholinganallur - 1 is Rs 2,200 per sq.ft, making Quaid Milleth 5th Street's value below this median.

Where can I find more information about stamp duty and registration fees?

For detailed calculations regarding stamp duty and registration fees, you can use the stamp duty and registration fee calculator.