Guideline Value for KUPPAM 5TH STREET

Kuppam 5th Street guideline value

The current guideline value of Kuppam 5th Street is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village under the Neelankarai SRO, classified as Residential Class V Type - II.

How the guideline value of Kuppam 5th Street has changed

The guideline value for Kuppam 5th Street has evolved through several revisions. The earliest recorded figure is from the 2007 revision at Rs 250 per sq.ft, which increased significantly by 200% to Rs 750 per sq.ft in 2012. However, this value then decreased by 33% to Rs 502 per sq.ft in 2017. The 2023 revision maintained the value at Rs 1,000 per sq.ft, and the same figure was retained in the 2024 revision, indicating no change between these two years.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 300%. The register has no figure for the years 2002 and 2003 for this street.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Kuppam 5th Street's 2024 figure below this median.

• Kuppam 4th Street: Rs 1,000 per sq.ft (2024)
• Kuppam 6th Street: Rs 1,000 per sq.ft (2024)
• Kuppam 3rd Street: Rs 1,000 per sq.ft (2024)
• Kuppam 2nd Street: Rs 1,000 per sq.ft (2024)
• Kuppam 1st 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 5th 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 amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, leading to a total cost of Rs 90,000. 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 Kuppam 5th Street?

The Sub Registrar Office that covers Kuppam 5th 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 is used to determine the stamp duty and registration fees that need to be paid when buying or selling a property.

When a property is sold, the guideline value is considered to ensure that the transaction reflects a fair value for taxation purposes. Buyers and sellers should be aware of the current guideline values to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Kuppam 5th Street?

The current guideline value of Kuppam 5th 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 in 2024, marking a 300% increase overall. The value remained the same from 2023 to 2024.

What is the land classification for Kuppam 5th Street?

Kuppam 5th Street is classified as Residential Class V Type - II under the Neelankarai SRO.

What are the stamp duty and registration fees for this property?

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000.

Which office handles registrations for Kuppam 5th Street?

The Neelankarai Sub Registrar Office handles registrations for Kuppam 5th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.