Guideline Value for Quidemillath Nagar

Quidemillath Nagar guideline value

The current guideline value of Quidemillath Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Katrampakkam B village, under the Sriperumpudur Sub Registrar Office (SRO). The land classification for this locality is Residential Class III Type - I.

How the guideline value of Quidemillath Nagar has changed

The guideline value of Quidemillath Nagar has seen several revisions over the years. The earliest available figure is from the 2017 revision, which was Rs 167 per sq.ft. This value increased by 50% to Rs 250 per sq.ft in the 2023 revision. The 2024 revision has maintained the same value of Rs 250 per sq.ft, indicating no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for Quidemillath Nagar. Therefore, the most significant changes in the guideline value occurred between 2017 and 2024, with an overall increase of 50% during this period.

Guideline values in Katrampakkam B

Katrampakkam B village has a total of 44 streets under the Sriperumpudur SRO that carry a 2024 guideline value. The values for these streets range from Rs 150 to Rs 800 per sq.ft, with a median of Rs 275 per sq.ft. Quidemillath Nagar's 2024 guideline value of Rs 250 per sq.ft is below this median.

• Poongavanaththamman Koil Street: Rs 250 per sq.ft (2024)
• Perumal Koil Street: Rs 250 per sq.ft (2024)
• Ram Nagar: Rs 250 per sq.ft (2024)
• Royal Homes: Rs 400 per sq.ft (2024)
• Pallavan Nagar: Rs 500 per sq.ft (2024)
• Pakiya Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Quidemillath Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty, charged at 7%, would amount to Rs 17,500, while the registration fee at 2% would be Rs 5,000. Therefore, the total amount payable for stamp duty and registration fees would be Rs 22,500. 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 information on applicable fees.

Which Sub Registrar Office covers Quidemillath Nagar?

The Sub Registrar Office that covers Quidemillath Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Katrampakkam B. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate stamp duty and registration fees, ensuring that these charges are based on a standardized assessment of property worth.

When a buyer or seller engages in a transaction, the guideline value helps in establishing a fair price for registration purposes. It is essential to be aware of the current guideline value to ensure compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Quidemillath Nagar?

The current guideline value of Quidemillath Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2024, marking a 50% overall increase during this period.

What is the land classification for Quidemillath Nagar?

The land classification for Quidemillath Nagar is Residential Class III Type - I, indicating its suitability for residential development.

What is the registration office for Quidemillath Nagar?

The registration office for Quidemillath Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Quidemillath Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 17,500.