Guideline Value for Kasi Visalakshmi Kuppam

Kasi Visalakshmi Kuppam guideline value

The current guideline value of Kasi Visalakshmi Kuppam is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Ernavur village under the Thiruvottiyur SRO and falls under the Residential Class I Type - II land classification.

How the guideline value of Kasi Visalakshmi Kuppam has changed

The guideline value for Kasi Visalakshmi Kuppam has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 200 per sq.ft. This value saw a significant increase to Rs 1,500 per sq.ft in 2012, representing a rise of 650%. However, in 2017, the value decreased to Rs 1,005 per sq.ft, a drop of 33%. The value then increased significantly to Rs 1,500 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, reflecting a 7% 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 700%.

Guideline values in Ernavur

In Ernavur, there are 82 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 7,300 per sq.ft, with the median being Rs 1,600 per sq.ft. The guideline value of Kasi Visalakshmi Kuppam is equal to this median.

• Kasi Viswanathar Koilkuppam: Rs 1,600 per sq.ft (2024)
• Kasi Koil Meenavar colony: Rs 1,600 per sq.ft (2024)
• Kasikoil Kuppam: Rs 1,600 per sq.ft (2024)
• Kanniyala Layout: Rs 1,600 per sq.ft (2024)
• Kamarajar Nagar/ Main Streets/ Cross Streets: Rs 1,600 per sq.ft (2024)
• Kamalammal Street: Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kasi Visalakshmi Kuppam

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees together to Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Kasi Visalakshmi Kuppam?

The Sub Registrar Office that covers Kasi Visalakshmi Kuppam is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. For more information, you can find your SRO.

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

The guideline value plays a critical role in the registration process when buying or selling property in Ernavur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the guideline value can significantly influence the total costs associated with property transactions.

When registering a property, the guideline value serves as a benchmark for the minimum value on which duties are calculated. This ensures that the transaction is recorded at a value that reflects the market standards set by the local government.

Frequently asked questions

What is the current guideline value of Kasi Visalakshmi Kuppam?

The current guideline value of Kasi Visalakshmi Kuppam is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, with several revisions in between, including a drop in 2017 and significant increases in subsequent years.

What is the registration office for Kasi Visalakshmi Kuppam?

The registration office for Kasi Visalakshmi Kuppam is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in Kasi Visalakshmi Kuppam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at a rate of 7%.

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

Other streets in Ernavur with the same guideline value of Rs 1,600 per sq.ft include Kasi Viswanathar Koilkuppam, Kasi Koil Meenavar colony, Kasikoil Kuppam, Kanniyala Layout, and Kamarajar Nagar/ Main Streets/ Cross Streets.