Guideline Value for KUMARA KUPPAM 3RD STREET

Kumara Kuppam 3rd Street guideline value

The current guideline value of Kumara Kuppam 3rd Street is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Tiruttani village, under the Thiruttani SRO, and is classified as Residential Class V Type - I.

How the guideline value of Kumara Kuppam 3rd Street has changed

The guideline value for Kumara Kuppam 3rd Street has undergone several revisions over the years. The 2017 revision set the value at Rs 335 per sq.ft. This increased to Rs 500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 saw the value further increase to Rs 550 per sq.ft, which is a 10% increase from the previous year.

It is noteworthy that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Tiruttani

In Tiruttani, there are 160 streets under the Thiruttani SRO that carry a 2024 guideline value ranging from Rs 548 to Rs 1,540 per sq.ft, with a median value of Rs 825 per sq.ft. The guideline value for Kumara Kuppam 3rd Street is below this median.

• Kumara Kuppam 1st Street: Rs 550 per sq.ft (2024)
• Kumara Kuppam 2nd Street: Rs 550 per sq.ft (2024)
• Kumara Kuppam 4th Street: Rs 550 per sq.ft (2024)
• Kumarakupamcolony: Rs 550 per sq.ft (2024)
• Kumara Arunthathjiar Colony: Rs 550 per sq.ft (2024)
• Kurunji Nagar: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Kumara Kuppam 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumara Kuppam 3rd Street?

The Sub Registrar Office that covers Kumara Kuppam 3rd Street is the Thiruttani Sub Registrar Office, located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tiruttani. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable stamp duty. This process helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Kumara Kuppam 3rd Street?

The current guideline value of Kumara Kuppam 3rd Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023, and then to Rs 550 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the land classification of Kumara Kuppam 3rd Street?

Kumara Kuppam 3rd Street is classified as Residential Class V Type - I. This classification is important for determining the permissible uses of the land.

What are the stamp duty and registration fees for property in Kumara Kuppam 3rd Street?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Kumara Kuppam 3rd Street?

The registration for Kumara Kuppam 3rd Street is handled by the Thiruttani Sub Registrar Office, located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai registration zone.