Guideline Value for QUAID MILLETH EXTENTION

Quaid Milleth Extention guideline value

The current guideline value of Quaid Milleth Extention is Rs 1,700 per sq.ft, effective from 1 July 2024. This area falls under the village of Sholinganallur - 1 and is classified as Residential Class IV Type - I by the Neelankarai SRO.

How the guideline value of Quaid Milleth Extention has changed

The guideline value for Quaid Milleth Extention has seen several revisions over the years. From the 2017 revision, the value was Rs 1,005 per sq.ft, which increased to Rs 1,500 per sq.ft in the 2023 revision. The latest revision in 2024 has set the value at Rs 1,700 per sq.ft, marking a significant increase of 49% from 2017 to 2023 and a further increase of 13% from 2023 to 2024. The overall change from 2017 to 2024 is a notable 69% increase.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. The absence of figures for these years indicates that there were no recorded changes in the guideline value during that time.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for this area is Rs 2,200 per sq.ft, making the current guideline value of Quaid Milleth Extention below the median.

• Quaid Milleth 5th Street: Rs 1,700 per sq.ft (2024)
• Quaid Milleth 4th Street: Rs 1,700 per sq.ft (2024)
• Quaid Milleth Street: 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 1st Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Quaid Milleth Extention

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees to 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 on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Quaid Milleth Extention?

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

To find your SRO, you can visit find your SRO.

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

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

When a property is sold, the guideline value serves as a benchmark for the sale price, ensuring that the transaction is recorded at a value that reflects the official valuation set by the government. This helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Quaid Milleth Extention?

The current guideline value of Quaid Milleth Extention 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, marking an overall increase of 69% across the revisions.

What are the stamp duty rates applicable in Quaid Milleth Extention?

The stamp duty rate in Quaid Milleth Extention is 7% of the guideline value or sale price, whichever is higher.

Which office handles registrations for properties in this area?

The Neelankarai Sub Registrar Office is responsible for handling registrations for properties in Quaid Milleth Extention.

What should I do if I want to find my SRO?

You can find your SRO by visiting the provided link to the find your SRO page.