Guideline Value for KUTTIAPPAN 1ST STREET

Kuttiappan 1st Street guideline value

The current guideline value of Kuttiappan 1st Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village under the Purasaivakkam SRO, with a land classification of Residential Class III Type - I.

How the guideline value of Kuttiappan 1st Street has changed

Over the years, the guideline value of Kuttiappan 1st Street has seen several revisions. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a 150% rise. However, the value then decreased to Rs 3,350 per sq.ft in 2017, showing a decline of 26%. The value rose again to Rs 5,000 per sq.ft in 2023, reflecting a 49% increase, and finally reached Rs 5,500 per sq.ft in the 2024 revision, a 10% increase from the previous year.

The register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 206%.

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. The median value is Rs 5,500 per sq.ft, placing Kuttiappan 1st Street's 2024 figure at this median level.

• 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)
• Kuttiappan Street: Rs 5,500 per sq.ft (2024)
• Kutti Chetti Street: Rs 5,500 per sq.ft (2024)
• Kutpat Pallam 2nd Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kuttiappan 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total charges Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kuttiappan 1st Street?

Kuttiappan 1st Street falls under the jurisdiction of the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Purasaivakkam. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the registration process.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kuttiappan 1st Street?

The current guideline value of Kuttiappan 1st Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 206% over the years.

What is the stamp duty rate for properties in Kuttiappan 1st Street?

The stamp duty rate for properties in Kuttiappan 1st Street is 7% of the guideline value or the sale price, whichever is higher.

Which office handles registrations for Kuttiappan 1st Street?

The Purasaivakkam Sub Registrar Office handles registrations for Kuttiappan 1st Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is compared to the sale price, and the higher value is used for calculating applicable duties.