Guideline Value for KUPPUSAMY PADMAVATHY NAGAR

Kuppusamy Padmavathy Nagar guideline value

The current guideline value of Kuppusamy Padmavathy Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Perumalagaram village, under the Chennai South Joint II SRO, and is classified as Residential Class III Type - I.

How the guideline value of Kuppusamy Padmavathy Nagar has changed

The guideline value for Kuppusamy Padmavathy Nagar has seen several revisions over the years. In 2002, the value was Rs 55 per sq.ft, which increased to Rs 70 per sq.ft in 2003. The value rose significantly to Rs 200 per sq.ft in 2007, followed by a substantial jump to Rs 1,500 per sq.ft in 2012. However, it decreased to Rs 1,005 per sq.ft in 2017, before increasing to Rs 1,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft.

In terms of percentage changes, from 2002 to 2003, the increase was +27%. The value surged by +186% from 2003 to 2007. A notable increase of +650% occurred from 2007 to 2012, followed by a decrease of -33% from 2012 to 2017. The value then rose by +49% from 2017 to 2023, and finally, there was a +10% increase from 2023 to 2024. Overall, the guideline value has increased by +2900% from 2002 to 2024.

Guideline values in Perumalagaram

In Perumalagaram, there are 74 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 825 to Rs 7,920 per sq.ft. The median guideline value for these streets is Rs 3,190 per sq.ft, placing Kuppusamy Padmavathy Nagar's 2024 figure below that median.

• Kothandaraman Street: Rs 3,190 per sq.ft (2024)
• Loganathan Street: Rs 3,190 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 3,190 per sq.ft (2024)
• Mahalakshmi Nagar Extension I: Rs 3,190 per sq.ft (2024)
• Mahalakshmi Nagar Extension II: Rs 3,190 per sq.ft (2024)
• Mahalakshmi Nagar Extension III: Rs 3,190 per sq.ft (2024)

Stamp duty and registration fee for property in Kuppusamy Padmavathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. It is important to note that the 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 further assistance.

Which Sub Registrar Office covers Kuppusamy Padmavathy Nagar?

The Sub Registrar Office that covers Kuppusamy Padmavathy Nagar is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration of property transactions in Perumalagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees during the transaction.

When buying or selling property, the actual sale price must meet or exceed the guideline value. If the sale price is lower than the guideline value, the higher guideline value will be used to calculate the applicable fees. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Kuppusamy Padmavathy Nagar?

The current guideline value of Kuppusamy Padmavathy Nagar is Rs 1,650 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 55 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of +2900% over this period.

What is the registration office for Kuppusamy Padmavathy Nagar?

The registration office for Kuppusamy Padmavathy Nagar is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For example, on a 1,000 sq.ft plot, the total fees would amount to Rs 1,48,500.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum value for property registration, ensuring that the appropriate stamp duty and registration fees are collected. If the sale price is lower than the guideline value, the higher guideline value is used for fee calculations.