Guideline Value for KAIKKANKUPPAM - B.L.N.Prasath Nagar

KAIKKANKUPPAM - B.L.N.Prasath Nagar guideline value

The current guideline value for KAIKKANKUPPAM - B.L.N.Prasath Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Valasaravakkam village under the Virugambakkam SRO, classified as Residential Class II Type - II.

How the guideline value of KAIKKANKUPPAM - B.L.N.Prasath Nagar has changed

The guideline value for KAIKKANKUPPAM - B.L.N.Prasath Nagar has seen several revisions over the years. The earliest recorded revision is from 2002, where the rate was Rs 424 per sq.ft. This figure increased to Rs 461 per sq.ft in 2003, representing a 9% rise. Following this, the value rose significantly to Rs 750 per sq.ft in 2007, marking a 63% increase. The 2012 revision set the value at Rs 3,000 per sq.ft, a substantial increase of 300% from the previous figure. However, by 2017, the value dropped to Rs 2,010 per sq.ft, reflecting a decrease of 33%. The guideline value then increased to Rs 3,000 per sq.ft in 2023, before reaching the current value of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from the 2002 revision to the current 2024 revision, the guideline value has increased by 678%. There are no figures available for the revisions in years other than those mentioned.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, indicating that KAIKKANKUPPAM - B.L.N.Prasath Nagar's 2024 figure is below the median.

• KAIKKANKUPPAM - Bharathiyar Street: Rs 3,300 per sq.ft (2024)
• KAIKKANKUPPAM - Elumalai Street: Rs 3,300 per sq.ft (2024)
• KAIKKANKUPPAM - Bharathiyar Cross: Rs 3,300 per sq.ft (2024)
• KAIKKANKUPPAM - Gangaiamman koil Street: Rs 3,300 per sq.ft (2024)
• KAIKKANKUPPAM - Bharathi Street: Rs 3,300 per sq.ft (2024)
• KAIKKANKUPPAM - Pillaiyar Koil Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in KAIKKANKUPPAM - B.L.N.Prasath Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 33,00,000. The stamp duty is calculated at 7%, which totals Rs 2,31,000, while the registration fee at 2% is Rs 66,000. Together, the total cost for stamp duty and registration fee is Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for precise calculations based on your property details.

Which Sub Registrar Office covers KAIKKANKUPPAM - B.L.N.Prasath Nagar?

The KAIKKANKUPPAM - B.L.N.Prasath Nagar area falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Valasaravakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately and transparently.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of KAIKKANKUPPAM - B.L.N.Prasath Nagar?

The current guideline value for KAIKKANKUPPAM - B.L.N.Prasath Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 424 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 678% over this period.

What is the land classification for this area?

KAIKKANKUPPAM - B.L.N.Prasath Nagar is classified as Residential Class II Type - II.

Where can I find the registration office for this area?

The Virugambakkam Sub Registrar Office, which covers KAIKKANKUPPAM - B.L.N.Prasath Nagar, is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.