Guideline Value for Kuppachary Street

Kuppachary Street guideline value

The current guideline value of Kuppachary Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Kuppachary Street has changed

The guideline value for Kuppachary Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 3,500 per sq.ft. This figure remained the same in the 2012 revision as well. However, in the 2017 revision, the value decreased to Rs 2,345 per sq.ft. Following this, the value saw a significant increase in the 2023 revision to Rs 3,500 per sq.ft, and further increased to Rs 3,850 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

Chitlapakkam has a total of 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for the village is Rs 1,650 per sq.ft, placing Kuppachary Street’s 2024 figure above this median.

• Kuppusamy Nagar: Rs 1,100 per sq.ft (2024)
• Kuppusamy St: Rs 2,750 per sq.ft (2024)
• Kumar Street: Rs 1,100 per sq.ft (2024)
• Kumaran Street: Rs 1,650 per sq.ft (2024)
• Kulothungan street: Rs 2,750 per sq.ft (2024)
• Lakshmi Nagar: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kuppachary Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty, charged at 7%, would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Therefore, the total cost for stamp duty and registration fees together would be Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kuppachary Street?

Kuppachary Street is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Chitlapakkam. 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 official valuation of the property. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kuppachary Street?

The current guideline value of Kuppachary Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

What is the land classification for Kuppachary Street?

Kuppachary Street is classified as Residential Special Type - II. This classification indicates the type of development and usage permitted in the area.

Where is the Tambaram Joint 1 Sub Registrar Office located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

How is stamp duty calculated for properties on Kuppachary Street?

Stamp duty for properties on Kuppachary Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,69,500.