Guideline Value for Kuppaiyer Street

Kuppaiyer Street guideline value

The current guideline value of Kuppaiyer Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village, under the Sowcarpet SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Kuppaiyer Street has changed

The guideline value for Kuppaiyer Street has undergone several revisions over the years. The earliest recorded value was Rs 920 per sq.ft in 2003, which increased to Rs 1,200 per sq.ft in 2007. Following that, there was a significant increase to Rs 4,000 per sq.ft in 2012, but this was followed by a decrease to Rs 2,680 per sq.ft in 2017. The value then rose sharply to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft as of the 2024 revision. Notably, there is no figure available for the year 2002 in the register for this street.

From 2017 to 2023, the value increased by 49%, while the jump from 2023 to 2024 represents a 10% increase. The 2012 to 2017 period saw a decrease of 33%, and the value rose dramatically by 233% from 2007 to 2012. Between 2003 and 2007, the increase was 30%. Overall, from 2003 to 2024, the guideline value has increased by 378%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value, ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which is equal to the current value of Kuppaiyer Street.

• Kumarappa Mudali Street: Rs 4,900 per sq.ft (2024)
• Kumarappa Maistry Street: Rs 6,000 per sq.ft (2024)
• Kutti Maistry Street: Rs 4,400 per sq.ft (2024)
• Lakkumudas Lane: Rs 8,800 per sq.ft (2024)
• Lakkumudas Street: Rs 8,800 per sq.ft (2024)
• Kulandhai Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kuppaiyer Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kuppaiyer Street?

The Sub Registrar Office covering Kuppaiyer Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Muthiyalpet. It determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees applicable during the transaction.

When registering a property, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value of Kuppaiyer Street?

The current guideline value of Kuppaiyer Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 920 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, with various revisions in between, including a significant increase from Rs 1,200 per sq.ft in 2007 to Rs 4,000 per sq.ft in 2012.

What are the stamp duty and registration fees for Kuppaiyer Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 3,96,000 based on the current guideline value.

Where can I find the Sub Registrar Office for Kuppaiyer Street?

The Sowcarpet Sub Registrar Office covers Kuppaiyer Street and is located at No.11, Davidson Street, Sowcarpet, Chennai-01.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum value for property registration and is essential for calculating the applicable stamp duty and registration fees during a transaction.