Guideline Value for KUPPAM 2ND STREET

Kuppam 2nd Street guideline value

The current guideline value of Kuppam 2nd Street is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village and falls under the Neelankarai SRO. The land classification for this area is Residential Class V Type - II.

How the guideline value of Kuppam 2nd Street has changed

The guideline value for Kuppam 2nd Street has seen several revisions over the years. The 2007 revision set the value at Rs 250 per sq.ft, which increased to Rs 750 per sq.ft in 2012, marking a significant increase of 200%. However, from 2012 to 2017, the value decreased to Rs 502 per sq.ft, a decline of 33%. The 2017 revision then brought the value up to Rs 1,000 per sq.ft in 2023, reflecting a substantial increase of 99%. The current guideline value remains the same at Rs 1,000 per sq.ft as per the 2024 revision, showing no change from the previous year.

It is important to note that there are no figures available for Kuppam 2nd Street in the 2002 and 2003 revisions. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 300%.

Guideline values in Palavakkam

In Palavakkam, there are a total of 349 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Kuppam 2nd Street's 2024 figure below that median.

• Kuppam 1st 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 2nd 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, bringing the total charges to Rs 90,000. It is essential 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 Kuppam 2nd Street?

The Sub Registrar Office that covers Kuppam 2nd Street is 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 plays a crucial role in the registration process of property transactions in Palavakkam. It serves as a benchmark to determine the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers must be aware that these charges are based on the guideline value or the sale price, whichever is higher, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kuppam 2nd Street?

The current guideline value of Kuppam 2nd 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 significantly from Rs 250 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2024, reflecting a 300% increase overall.

What are the registration fees for a property in Kuppam 2nd Street?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Which office handles property registrations for Kuppam 2nd Street?

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

What is the median guideline value of streets in Palavakkam?

The median guideline value of streets in Palavakkam is Rs 3,300 per sq.ft, with Kuppam 2nd Street's value being below this median at Rs 1,000 per sq.ft.