Guideline Value for Quiathemillath Street - (T.M.P.Nagar)

Quiathemillath Street - (T.M.P.Nagar) guideline value

The current guideline value of Quiathemillath Street - (T.M.P.Nagar) is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village under the Konnur SRO and is classified as Residential Class I Type - I.

How the guideline value of Quiathemillath Street - (T.M.P.Nagar) has changed

The guideline value for Quiathemillath Street has seen several revisions over the years. In 2012, the value was set at Rs 5,000 per sq.ft. This figure then dropped to Rs 3,350 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 5,000 per sq.ft, reflecting a rise of 49%. The current revision in 2024 has further increased the guideline value to Rs 5,500 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO, with guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 7,100 per sq.ft, indicating that Quiathemillath Street's 2024 figure is below this median.

• Pugazhanthi Salai (Mogappair East Block 4): Rs 7,100 per sq.ft (2024)
• Puducherry Colony: Rs 3,800 per sq.ft (2024)
• Prathish Street: Rs 7,100 per sq.ft (2024)
• Perumal Nagar: Rs 7,100 per sq.ft (2024)
• Periyar Street (Srinivasa Nagar): Rs 3,800 per sq.ft (2024)
• Periyar Street Ist Cross Street to 5 Cross Street and others Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Quiathemillath Street - (T.M.P.Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. 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 detailed calculations.

Which Sub Registrar Office covers Quiathemillath Street - (T.M.P.Nagar)?

The Sub Registrar Office that covers Quiathemillath Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mugappair. It serves as a benchmark for determining the minimum value at which a property can be registered and is used to calculate applicable stamp duty and registration fees.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Quiathemillath Street?

The current guideline value of Quiathemillath Street - (T.M.P.Nagar) is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 5,000 per sq.ft in 2012, dropping to Rs 3,350 per sq.ft in 2017, and then rising to Rs 5,000 per sq.ft in 2023, before reaching Rs 5,500 per sq.ft in 2024.

What is the land classification for Quiathemillath Street?

Quiathemillath Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this street?

The Konnur Sub Registrar Office covers Quiathemillath Street and is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the stamp duty calculated for properties in Quiathemillath Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 55,00,000, the stamp duty would be calculated accordingly, along with the registration fee.