Guideline Value for QUIDE MILLATH II ND STREET

Quide Millath II Nd Street guideline value

The current guideline value of Quide Millath II Nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village under the Kodambakkam SRO, and it falls under the Residential Class V Type - I land classification.

How the guideline value of Quide Millath II Nd Street has changed

The guideline value for Quide Millath II Nd Street has seen several revisions over the years. In 2007, the guideline value was Rs 700 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, the value then decreased by 33% to Rs 2,010 per sq.ft in 2017. Following this, the value rose sharply to Rs 3,000 per sq.ft in 2023, and most recently, it increased by 10% to Rs 3,300 per sq.ft in 2024. There are no figures available for the years 2002 and 2003 in the register for this street.

Overall, from 2007 to 2024, the guideline value has increased by 371%. The changes between the revisions highlight the fluctuations in the guideline value, with the most notable increase being from Rs 700 in 2007 to Rs 3,300 in 2024.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 6,000 per sq.ft, placing Quide Millath II Nd Street's 2024 figure below this median.

• Quide Millath III Rd Street: Rs 3,300 per sq.ft (2024)
• Quide Millath I St Street: Rs 3,800 per sq.ft (2024)
• Raghavan Street: Rs 5,500 per sq.ft (2024)
• Raghuraman Street: Rs 6,000 per sq.ft (2024)
• Raghuram Street: Rs 6,000 per sq.ft (2024)
• Pulavar Pugazhendhi Nagar Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Quide Millath II Nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Quide Millath II Nd Street?

The Sub Registrar Office that covers Quide Millath II Nd Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Arumbakkam, as it is used to determine the stamp duty and registration fees applicable during the transaction. Buyers should be aware that the guideline value is often the basis for calculating these fees, ensuring that the registration process is compliant with local regulations.

When a property is sold, the guideline value serves as a reference point for both parties involved in the transaction. This helps in establishing a fair price for the property, as it reflects the current market conditions as assessed by the registration authorities.

Frequently asked questions

What is the current guideline value of Quide Millath II Nd Street?

The current guideline value of Quide Millath II Nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 in 2007 to Rs 3,300 in 2024, with various revisions in between, including a decrease in 2017 and increases in subsequent years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office handles the registration for this street?

The Kodambakkam Sub Registrar Office handles the registration for Quide Millath II Nd Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the median guideline value in Arumbakkam?

The median guideline value in Arumbakkam is Rs 6,000 per sq.ft, with Quide Millath II Nd Street's current value being below this median.