Guideline Value for KUPPIAH CHETTY STREET

Kuppiah Chetty Street guideline value

The current guideline value of Kuppiah Chetty Street is Rs 12,100 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village, under the Thiyagaraya nagar SRO, with a land classification of Mixed Special Type - II.

How the guideline value of Kuppiah Chetty Street has changed

The guideline value for Kuppiah Chetty Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 930 per sq.ft. This increased to Rs 1,032 per sq.ft in 2003, marking an increase of 11%. The value continued to rise, reaching Rs 1,500 per sq.ft in 2007, which represented a significant increase of 45%. Following this, the value surged to Rs 11,000 per sq.ft in 2012, showing a remarkable increase of 633% from the previous revision.

In 2017, the guideline value decreased to Rs 7,370 per sq.ft, a decline of 33%. However, this was followed by a substantial increase to Rs 11,000 per sq.ft in 2023, which was a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 12,100 per sq.ft, representing a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,201%.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft. Kuppiah Chetty Street's current guideline value is above the median of Rs 6,600 per sq.ft.

• Kuyavar 1st Lane: Rs 5,500 per sq.ft (2024)
• Kuyavar 2nd Lane: Rs 5,500 per sq.ft (2024)
• Kuyavar 3rd Lane: Rs 5,500 per sq.ft (2024)
• Kuyavar Street: Rs 9,900 per sq.ft (2024)
• Lake View Road: Rs 9,900 per sq.ft (2024)
• Kumaran Colony 2nd Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kuppiah Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 12,100 per sq.ft, the total guideline value would be Rs 1,21,00,000. The stamp duty at 7% would be Rs 8,47,000, and the registration fee at 2% would be Rs 2,42,000, bringing the total to Rs 10,89,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kuppiah Chetty Street?

The Sub Registrar Office that covers Kuppiah Chetty Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions within Mambalam. It serves as a benchmark for determining the minimum value of a property for registration purposes. When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the higher of the guideline value or the sale price is considered for calculating the stamp duty. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Kuppiah Chetty Street?

The current guideline value of Kuppiah Chetty Street is Rs 12,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, from Rs 930 per sq.ft in 2002 to Rs 12,100 per sq.ft in 2024, marking an increase of 1,201% over this period.

What is the land classification for Kuppiah Chetty Street?

Kuppiah Chetty Street is classified as Mixed Special Type - II, which is a designation used for various types of land use in the area.

What are the stamp duty and registration fees for properties on this street?

For a property valued at the current guideline of Rs 12,100 per sq.ft, the stamp duty would be Rs 8,47,000 and the registration fee would be Rs 2,42,000, totaling Rs 10,89,000.

Where can I find the Sub Registrar Office for Kuppiah Chetty Street?

The Thiyagaraya nagar Sub Registrar Office, which covers Kuppiah Chetty Street, is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.