Guideline Value for QUIDE MILLATH III RD STREET

Quide Millath III Rd Street guideline value

The current guideline value of Quide Millath III Rd 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 is classified as Residential Class V Type - I.

How the guideline value of Quide Millath III Rd Street has changed

The guideline value for Quide Millath III Rd Street has undergone several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 329%. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a decline of 33%. The value then increased by 49% to Rs 3,000 per sq.ft in 2023, and it has now risen by 10% to the current value of Rs 3,300 per sq.ft in 2024.

It is important to note that there are no figures in the register for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 371%.

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 value for these streets is Rs 6,000 per sq.ft, placing Quide Millath III Rd Street's 2024 figure below that median.

• Quide Millath II Nd 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 III Rd 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, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Quide Millath III Rd Street?

The Sub Registrar Office that covers Quide Millath III Rd 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 in the registration process of property transactions in Arumbakkam. It serves as the basis for calculating stamp duty and registration fees, which are mandatory when transferring property ownership.

When you buy or sell property, the guideline value ensures that the transaction is recorded at a fair value, providing a standard reference for both buyers and sellers. It is essential to be aware of the current guideline value to understand the financial implications of any property transaction.

Frequently asked questions

What is the current guideline value of Quide Millath III Rd Street?

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

How much has the guideline value changed over the years?

The guideline value has increased from Rs 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 371% over the years.

What are the stamp duty and registration fees for property in Quide Millath III Rd Street?

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 office handles property registrations in Arumbakkam?

The Kodambakkam Sub Registrar Office handles property registrations in Arumbakkam, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the guideline value determined for properties?

The guideline value is determined based on various factors, including land classification and historical data from previous revisions. It serves as a standard reference for calculating stamp duty and registration fees during property transactions.