Guideline Value for KUTTIAPPAN 2ND STREET

Kuttiappan 2nd Street guideline value

The current guideline value of Kuttiappan 2nd Street is Rs 5,500 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 III Type - I.

How the guideline value of Kuttiappan 2nd Street has changed

Over the years, the guideline value of Kuttiappan 2nd Street has seen several revisions. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, it then decreased to Rs 3,350 per sq.ft in the 2017 revision. Following this, the value rose to Rs 5,000 per sq.ft in 2023 and has now reached Rs 5,500 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. The 2012 to 2017 period saw a decrease of 33%, while the 2007 to 2012 period experienced a significant increase of 178%. Overall, from 2007 to 2024, the guideline value has increased by 206%. Notably, there are no figures available for the years 2002 and 2003 for this street.

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 guideline value is Rs 5,500 per sq.ft, which matches the current value of Kuttiappan 2nd Street.

• Kuttiappan 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to 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 fees together 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.

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

Which Sub Registrar Office covers Kuttiappan 2nd Street?

The Sub Registrar Office covering Kuttiappan 2nd Street is 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 plays a crucial role in the registration process of property transactions in Purasaivakkam. It serves as the basis for calculating the stamp duty and registration fees that buyers must pay when purchasing property.

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

Frequently asked questions

What is the current guideline value of Kuttiappan 2nd Street?

The current guideline value of Kuttiappan 2nd 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 significantly 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 this period.

What are the other streets in Purasaivakkam with the same guideline value?

Other streets in Purasaivakkam with the same guideline value of Rs 5,500 per sq.ft for 2024 include Kuttiappan 1st Street, Kuttiappan 3rd Street, Kuttiappan Lane, Kuttiappan Street, and Kutti Chetti Street.

What fees apply when buying property in Kuttiappan 2nd Street?

When buying property in Kuttiappan 2nd Street, buyers must pay stamp duty at 7% and a registration fee at 2% based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Kuttiappan 2nd Street located?

The Sub Registrar Office for Kuttiappan 2nd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.