Guideline Value for KUPPAM 6TH STREET

Kuppam 6th Street guideline value

The current guideline value of Kuppam 6th 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 6th Street has changed

The guideline value for Kuppam 6th Street has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased to Rs 750 per sq.ft in 2012. However, this figure dropped by 33% to Rs 502 per sq.ft in 2017. The subsequent revision in 2023 maintained the value at Rs 1,000 per sq.ft, which remained unchanged in the 2024 revision.

Overall, from 2007 to 2024, the guideline value has increased by 300%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO with guideline values 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 6th Street's 2024 figure below this median.

• Kuppam 5th Street: Rs 1,000 per sq.ft (2024)
• Kuppam 4th 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 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to 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 fees to 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kuppam 6th Street?

The Kuppam 6th Street is covered by 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Palavakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the higher value between the guideline value and the sale price is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kuppam 6th Street?

The current guideline value of Kuppam 6th 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, reflecting a 300% increase over the years.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 10,00,000, the total stamp duty and registration fees would amount to Rs 90,000, based on the current guideline value.

Which office handles registrations for Kuppam 6th Street?

The Neelankarai Sub Registrar Office handles registrations for Kuppam 6th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

What is the land classification of Kuppam 6th Street?

Kuppam 6th Street is classified as Residential Class V Type - II, indicating its designation for residential use.