Guideline Value for KUPPAM 1ST STREET

Kuppam 1st Street guideline value

The current guideline value of Kuppam 1st Street is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village under the Neelankarai SRO and is classified as Residential Class V Type - II.

How the guideline value of Kuppam 1st Street has changed

The guideline value for Kuppam 1st Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 250 per sq.ft. This increased to Rs 750 per sq.ft in 2012, marking a 200% rise. However, from 2012 to 2017, the value decreased to Rs 502 per sq.ft, reflecting a decline of 33%. The subsequent revision in 2017 saw a significant increase to Rs 1,000 per sq.ft in 2023, which remained unchanged in the 2024 revision.

There are no figures available for Kuppam 1st Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Kuppam 1st Street is below this median.

• Kuppam 2nd Street: Rs 1,000 per sq.ft (2024)
• Kuppam 3rd Street: Rs 1,000 per sq.ft (2024)
• Kuppam 4th Street: Rs 1,000 per sq.ft (2024)
• Kuppam 5th Street: Rs 1,000 per sq.ft (2024)
• Kuppam 6th Street: Rs 1,000 per sq.ft (2024)
• Lakshmana Nagar: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kuppam 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kuppam 1st Street?

The Kuppam 1st Street falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Palavakkam. It serves as a benchmark for determining the stamp duty and registration fees payable by the buyer, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Kuppam 1st Street?

The current guideline value of Kuppam 1st Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,000 per sq.ft by 2024, reflecting a total increase of 300% over the years.

What are the other streets with the same guideline value?

The other streets in Palavakkam with the same guideline value of Rs 1,000 per sq.ft in 2024 include Kuppam 2nd Street, Kuppam 3rd Street, Kuppam 4th Street, Kuppam 5th Street, and Kuppam 6th Street.

What is the registration fee for property in Kuppam 1st Street?

The registration fee for property in Kuppam 1st Street is calculated based on the guideline value. For example, for a property valued at Rs 10,00,000, the registration fee would be Rs 20,000 at a rate of 2%.

Which office handles the registration for Kuppam 1st Street?

The Neelankarai Sub Registrar Office handles the registration for Kuppam 1st Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.