Guideline Value for ALLI KUPPAM ROAD

Alli Kuppam Road guideline value

The current guideline value of Alli Kuppam Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Alli Kuppam Road has changed

The guideline value for Alli Kuppam Road has undergone several revisions over the years. In 2002, the value was Rs 111 per sq.ft, which increased to Rs 129 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 900 per sq.ft in 2007, marking an increase of 598%. The value then changed to Rs 2,000 per sq.ft in 2012, which represented a 122% increase from the previous revision. However, it decreased to Rs 1,340 per sq.ft in 2017, showing a decline of 33%. The value was revised to Rs 2,000 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 2,200 per sq.ft, reflecting a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1882%. The register has no figures for the years not mentioned in this summary.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current value of Alli Kuppam Road.

• Alpha: Rs 2,220 per sq.ft (2024)
• Amsavalli Street (Somu Nagar): Rs 2,200 per sq.ft (2024)
• Annai Indira Nagar: Rs 2,750 per sq.ft (2024)
• Annaitherasa Street: Rs 2,200 per sq.ft (2024)
• Annapoorani Nagar / Street: Rs 2,750 per sq.ft (2024)
• Annasalai Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Alli Kuppam Road

For a property measuring 1,000 sq.ft at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, these fees would total Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Alli Kuppam Road?

The Sub Registrar Office that covers Alli Kuppam Road is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Medavakkam, as it determines the minimum value at which properties can be registered. When buying or selling property, this value is used to calculate the applicable stamp duty and registration fees, ensuring that all transactions are conducted transparently and fairly.

During the registration process, the guideline value serves as a reference point for both buyers and sellers. It helps in establishing a baseline for property pricing, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Alli Kuppam Road?

The current guideline value of Alli Kuppam Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 111 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1882% over the years.

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

The stamp duty for properties in Alli Kuppam Road is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Alli Kuppam Road?

The Sub Registrar Office for Alli Kuppam Road is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the significance of the guideline value in property transactions?

The guideline value is essential for determining the minimum registration value of properties, which affects the calculation of stamp duty and registration fees during property transactions.