Guideline Value for KUPPUSWAMY NAGAR

Kuppuswamy Nagar guideline value

The current guideline value of Kuppuswamy Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village, under the jurisdiction of the Manavalanagar SRO. The land classification for this area is Commercial Class I Type - III.

How the guideline value of Kuppuswamy Nagar has changed

Over the years, the guideline value for Kuppuswamy Nagar has seen several revisions. The 2007 revision set the value at Rs 150 per sq.ft, which increased significantly to Rs 1,300 per sq.ft in the 2012 revision. However, the value then decreased to Rs 871 per sq.ft in 2017. The 2023 revision maintained the value at Rs 1,300 per sq.ft, which remained unchanged in the 2024 revision, reflecting a 0% change between these two years.

From 2017 to 2023, there was a notable increase of 49%. The overall change from the 2007 revision to the 2024 revision is a significant increase of 767%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. Kuppuswamy Nagar's 2024 guideline value is above this median.

• Kurungi Street: Rs 600 per sq.ft (2024)
• Kuruvayur Steet: Rs 600 per sq.ft (2024)
• Kutti Mani Street: Rs 600 per sq.ft (2024)
• Kumaran Street: Rs 700 per sq.ft (2024)
• Kumaran Nagar Main Road: Rs 1,300 per sq.ft (2024)
• Kumanan Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kuppuswamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty is charged at 7%, which totals Rs 91,000, and the registration fee is 2%, amounting to Rs 26,000. Together, the total fees would be Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kuppuswamy Nagar?

Kuppuswamy Nagar falls under the jurisdiction of the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Vengathur, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider the guideline value to ensure compliance with registration requirements and to understand the financial implications of the transaction.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kuppuswamy Nagar?

The current guideline value of Kuppuswamy Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012, then decreased to Rs 871 per sq.ft in 2017, before returning to Rs 1,300 per sq.ft in 2023 and remaining the same in 2024.

What is the land classification of Kuppuswamy Nagar?

Kuppuswamy Nagar is classified as Commercial Class I Type - III, indicating its suitability for commercial activities.

What are the stamp duty and registration fees for a property in Kuppuswamy Nagar?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty is Rs 91,000 and the registration fee is Rs 26,000, totaling Rs 1,17,000.

Which office handles property registrations in Kuppuswamy Nagar?

The Manavalanagar Sub Registrar Office handles property registrations for Kuppuswamy Nagar, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.