Guideline Value for KUPPUSWAMY STREET

Kuppuswamy Street guideline value

The current guideline value of Kuppuswamy Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village under the Thiyagaraya nagar SRO and is classified as Residential Class III Type - I.

How the guideline value of Kuppuswamy Street has changed

The guideline value for Kuppuswamy Street has undergone several revisions over the years. In 2002, the guideline value was Rs 1,500 per sq.ft, which increased to Rs 1,665 per sq.ft in 2003, marking an 11% rise. The value then saw a significant increase to Rs 3,000 per sq.ft in 2007, representing an 80% change. In 2012, the value adjusted to Rs 6,000 per sq.ft, which was a 100% increase from the previous revision.

From 2012 to 2017, the guideline value decreased to Rs 4,020 per sq.ft, reflecting a 33% drop. The value rose again to Rs 6,000 per sq.ft in 2023, which was a 49% increase. The most recent revision in 2024 set the guideline value at Rs 6,600 per sq.ft, marking a 10% increase from the previous year. There are no figures available for the revisions in years not mentioned in this register.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft as of 2024. The median value for these streets is Rs 11,000 per sq.ft, placing Kuppuswamy Street's current guideline value below this median.

• Lakshmana Chetty Street: Rs 5,500 per sq.ft (2024)
• Lakshmi Colony: Rs 6,600 per sq.ft (2024)
• Lakshmikanthan Street: Rs 6,600 per sq.ft (2024)
• Lakshmi Narashiman Street: Rs 7,700 per sq.ft (2024)
• Krishnaswamy Road: Rs 11,000 per sq.ft (2024)
• Krishna Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kuppuswamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000. Together, these fees would total Rs 5,94,000. 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 more details.

Which Sub Registrar Office covers Kuppuswamy Street?

Kuppuswamy Street falls under 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 Tnagar

The guideline value is a crucial factor during the registration of property transactions in Tnagar. It is used to determine the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value serves as a benchmark for calculating the necessary fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Kuppuswamy Street?

The current guideline value of Kuppuswamy Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, with various increases and decreases in between.

What are the stamp duty rates for properties in Kuppuswamy Street?

The stamp duty rate for properties in Kuppuswamy Street is 7% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office handles property registrations for Kuppuswamy Street?

The Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35, handles property registrations for Kuppuswamy Street.

What is the median guideline value for streets in Tnagar?

The median guideline value for streets in Tnagar is Rs 11,000 per sq.ft, which is higher than the current value of Kuppuswamy Street.