Guideline Value for KUTTIAPPAN STREET

Kuttiappan Street guideline value

The current guideline value of Kuttiappan 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 Street has changed

The guideline value for Kuttiappan Street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,800 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012. However, in 2017, it dropped to Rs 3,350 per sq.ft before rising again to Rs 5,000 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 206%. Notably, there are no figures available for the years 2002 and 2003 in the register 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 value for these streets is Rs 5,500 per sq.ft, which is equal to the guideline value of Kuttiappan Street.

• Kuttiappan Lane: Rs 5,500 per sq.ft (2024)
• Kutti Chetti Street: Rs 5,500 per sq.ft (2024)
• Kuttiappan 3rd Street: Rs 5,500 per sq.ft (2024)
• Kuttiappan 2nd 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 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, resulting in a total of Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Kuttiappan Street?

The Sub Registrar Office that covers Kuttiappan 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 is a critical factor in the registration process when buying or selling property. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of registration.

When a property is sold, the guideline value helps ensure that the transaction reflects the legal value of the property, thereby safeguarding the interests of both buyers and sellers during the registration process.

Frequently asked questions

What is the current guideline value of Kuttiappan Street?

The current guideline value of Kuttiappan 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, showing an overall increase of 206% over this period.

What are the stamp duty and registration fees for property in Kuttiappan Street?

For a 1,000 sq.ft property at the current guideline value, the total guideline value is Rs 55,00,000, with a stamp duty of Rs 3,85,000 and a registration fee of Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office covers Kuttiappan Street?

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

What is the median guideline value in Purasaivakkam?

The median guideline value in Purasaivakkam is Rs 5,500 per sq.ft, which is the same as the guideline value for Kuttiappan Street.