Guideline Value for Quaidh Milleth Street

Quaidh Milleth Street guideline value

The current guideline value of Quaidh Milleth Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and falls under the Residential Class III Type - I land classification.

How the guideline value of Quaidh Milleth Street has changed

The guideline value for Quaidh Milleth Street has undergone several revisions over the years. The earliest recorded value was Rs 94 per sq.ft in 2002, which increased to Rs 103 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 500 per sq.ft in 2007, and then to Rs 1,500 per sq.ft in 2012. However, it dropped to Rs 1,005 per sq.ft in 2017 before increasing again to Rs 1,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 1,700 per sq.ft.

In terms of percentage changes, the value rose by 10% from 2002 to 2003, 385% from 2003 to 2007, and 200% from 2007 to 2012. However, it decreased by 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally by 13% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1,709%.

Guideline values in Neelankarai

In Neelankarai village, there are 377 streets under the Neelankarai SRO, with 2024 guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which means that Quaidh Milleth Street's 2024 figure is below the median.

• Raja Nagar 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Raja Nagar 1st Pirathana Salai: Rs 4,400 per sq.ft (2024)
• Raja Nagar 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Raja Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Raja Nagar Layout: Rs 4,400 per sq.ft (2024)
• Rajendra Nagar 10th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Quaidh Milleth Street

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 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Quaidh Milleth Street?

The Sub Registrar Office that covers Quaidh Milleth 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 more information.

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

The guideline value plays a crucial role when buying or selling property in Neelankarai. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value ensures that the transaction is recorded accurately and transparently. This helps maintain a standard for property transactions within the region, ensuring that all parties are aware of the legal and financial implications involved.

Frequently asked questions

What is the current guideline value of Quaidh Milleth Street?

The current guideline value of Quaidh Milleth 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 seen several changes, with the earliest recorded value being Rs 94 per sq.ft in 2002, rising to Rs 1,700 per sq.ft in 2024.

What is the land classification for Quaidh Milleth Street?

Quaidh Milleth Street is classified under Residential Class III Type - I.

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

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,53,000 based on the current guideline value.

Which office handles registrations for properties in Neelankarai?

The Neelankarai Sub Registrar Office handles registrations for properties in Neelankarai, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.