Guideline Value for QUAID-E-MILLATH STREET

Quaid-E-Millath Street guideline value

The current guideline value of Quaid-E-Millath Street in Jelandianpettai village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Quaid-E-Millath Street has changed

The guideline value for Quaid-E-Millath Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the latest 2024 revision has raised it further to Rs 1,650 per sq.ft.

In terms of percentage changes, the value increased by 10% from 2023 to 2024. There was a significant increase of 49% from 2017 to 2023. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value is Rs 2,200 per sq.ft, which means Quaid-E-Millath Street's 2024 figure is below that median.

• Puuthu Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Puthu Nagar Thiruvenkadam Street: Rs 2,200 per sq.ft (2024)
• Puthu Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Puthu Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Puthu Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Puthu Nagar 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Quaid-E-Millath Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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-E-Millath Street?

The Sub Registrar Office that covers Quaid-E-Millath Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Jelandianpettai. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices and preparing for registration.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Quaid-E-Millath Street?

The current guideline value of Quaid-E-Millath Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of Quaid-E-Millath Street?

Quaid-E-Millath Street is classified as Residential Class IV Type - I under the Chennai South Joint I SRO.

How is stamp duty calculated for properties on Quaid-E-Millath Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at 7%.

Where can I find the Sub Registrar Office for Quaid-E-Millath Street?

The Sub Registrar Office for Quaid-E-Millath Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.