Guideline Value for KUTTIAPPAN LANE

Kuttiappan Lane guideline value

The current guideline value of Kuttiappan Lane 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 Lane has changed

The guideline value for Kuttiappan Lane has seen several revisions over the years. In the 2007 revision, the value was Rs 1,100 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in the 2012 revision, marking a 355% increase. However, in the 2017 revision, the value dropped to Rs 3,350 per sq.ft, a decrease of 33%. The 2023 revision set the value at Rs 5,000 per sq.ft, and the most recent 2024 revision raised it to Rs 5,500 per sq.ft, reflecting a 10% increase.

It is important to note that the guideline 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 400%.

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, which is the same as the guideline value for Kuttiappan Lane.

• Kuttiappan 3rd Street: Rs 5,500 per sq.ft (2024)
• Kuttiappan Street: Rs 5,500 per sq.ft (2024)
• Kuttiappan 2nd Street: Rs 5,500 per sq.ft (2024)
• Kutti Chetti Street: Rs 5,500 per sq.ft (2024)
• Kuttiappan 1st 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 Lane

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, charged at 7%, would amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000. Together, the total cost for these fees would be 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 also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kuttiappan Lane?

Kuttiappan Lane is covered by the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the registration authorities. This helps in maintaining transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Kuttiappan Lane?

The current guideline value of Kuttiappan Lane 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 1,100 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, representing a 400% increase overall.

What are the other streets with the same guideline value?

Other streets in Purasaivakkam with the same guideline value of Rs 5,500 per sq.ft include Kuttiappan 3rd Street, Kuttiappan Street, Kuttiappan 2nd Street, Kutti Chetti Street, and Kuttiappan 1st Street.

What is the stamp duty rate for property in Kuttiappan Lane?

The stamp duty rate for property in Kuttiappan Lane is 7% of the guideline value or the sale price, whichever is higher.

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.