Guideline Value for KUTPAT PALLAM

Kutpat Pallam guideline value

The current guideline value of Kutpat Pallam is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Kutpat Pallam has changed

The guideline value for Kutpat Pallam has seen several revisions over the years. In 2007, the value was Rs 1,100 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a substantial rise of 264%. However, it dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%. The value then surged to Rs 4,000 per sq.ft in 2023, reflecting a 49% increase, and currently stands at Rs 4,400 per sq.ft from the 2024 revision, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft, with a median value of Rs 5,500 per sq.ft. The guideline value of Kutpat Pallam is below this median.

• Kutpat Pallam 1st Street: Rs 4,400 per sq.ft (2024)
• Kutpat Pallam 2nd Street: Rs 3,800 per sq.ft (2024)
• Kuttiappan 1st Street: Rs 5,500 per sq.ft (2024)
• Kuttiappan 2nd Street: Rs 5,500 per sq.ft (2024)
• Kuttiappan 3rd Street: Rs 5,500 per sq.ft (2024)
• Kuttiappan Lane: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kutpat Pallam

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total fees Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kutpat Pallam?

Kutpat Pallam is covered by the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration process of property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is recorded accurately and fairly.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal documentation. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kutpat Pallam?

The current guideline value of Kutpat Pallam is Rs 4,400 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 1,100 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 300% over the years.

What is the land classification for Kutpat Pallam?

Kutpat Pallam is classified as Residential Class IV Type - I, which indicates its designation for residential purposes.

Where can I find the Purasaivakkam Sub Registrar Office?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Kutpat Pallam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at a rate of 7%.