Guideline Value for KUPPUSWAMY PADMAVATHI NAGAR

Kuppuswamy Padmavathi Nagar guideline value

The current guideline value of Kuppuswamy Padmavathi Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Ramapuram village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - II.

How the guideline value of Kuppuswamy Padmavathi Nagar has changed

The guideline value for Kuppuswamy Padmavathi Nagar has undergone several revisions over the years. In 2002, the value was Rs 260 per sq.ft, which increased significantly to Rs 671 per sq.ft in 2003, marking a change of +158%. The value continued to rise, reaching Rs 1,600 per sq.ft in 2007, an increase of +138%. However, from 2007 to 2012, the value dropped to Rs 2,500 per sq.ft, a decrease of -33%. The value then increased to Rs 1,675 per sq.ft in 2017, followed by a significant rise to Rs 2,500 per sq.ft in 2023, and finally reaching Rs 2,750 per sq.ft in 2024, reflecting a change of +10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +958%. The register has no figures for the years not listed in the revisions.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft, with a median value of Rs 3,100 per sq.ft. The guideline value for Kuppuswamy Padmavathi Nagar is below this median.

• Kurinchi Nagar 1st Main Road: Rs 3,550 per sq.ft (2024)
• Kurinchi Nagar 1st To 5th Cross Street: Rs 3,550 per sq.ft (2024)
• Kurinchi Nagar 2nd Main Road: Rs 3,550 per sq.ft (2024)
• Kurinji Nagar 1st & 2nd Lane: Rs 3,550 per sq.ft (2024)
• Kurinji Nagar 1 to 6 Street: Rs 3,550 per sq.ft (2024)
• Kurinji Street: Rs 3,550 per sq.ft (2024)

Stamp duty and registration fee for property in Kuppuswamy Padmavathi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kuppuswamy Padmavathi Nagar?

Kuppuswamy Padmavathi Nagar falls under 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. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Ramapuram. It serves as a benchmark for calculating stamp duty and registration fees during the buying or selling process. Buyers and sellers must be aware of the guideline value to ensure compliance with registration requirements.

When a property is registered, the guideline value is used to determine the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kuppuswamy Padmavathi Nagar?

The current guideline value of Kuppuswamy Padmavathi Nagar is Rs 2,750 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 260 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of +958%.

What is the land classification of Kuppuswamy Padmavathi Nagar?

Kuppuswamy Padmavathi Nagar is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for Kuppuswamy Padmavathi Nagar?

The Sub Registrar Office for Kuppuswamy Padmavathi Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Kuppuswamy Padmavathi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at 7%.