Guideline Value for Kuppam Gandhi Nagar 2nd Street

Kuppam Gandhi Nagar 2nd Street guideline value

The current guideline value of Kuppam Gandhi Nagar 2nd Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village under the Adayar SRO, classified as Residential Class V Type - III.

How the guideline value of Kuppam Gandhi Nagar 2nd Street has changed

The guideline value for Kuppam Gandhi Nagar 2nd Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was later reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, and then rose again to Rs 1,700 per sq.ft in the 2024 revision, marking a 13% increase from the previous year.

In terms of percentage changes, the value increased by 49% from 2017 to 2023. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 13%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kottivakkam

Kottivakkam village has a total of 284 streets under the Adayar SRO, with guideline values ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value in this area is Rs 3,900 per sq.ft, placing Kuppam Gandhi Nagar 2nd Street's 2024 figure below this median.

• Kuppam Gandhi Nagar 1st Street: Rs 1,700 per sq.ft (2024)
• Kuppam Gandhi Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Kuppam Bharathi street: Rs 3,900 per sq.ft (2024)
• Kuppam Gandhi Nagar 4th Street: Rs 1,700 per sq.ft (2024)
• Kuppam Road: Rs 4,400 per sq.ft (2024)
• Lakshmana Nagar: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kuppam Gandhi Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Kuppam Gandhi Nagar 2nd Street?

The Kuppam Gandhi Nagar 2nd Street falls under the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating prices, as it affects the stamp duty and registration fees payable during the transaction.

When a property is sold, the guideline value is used to calculate the applicable duties and fees, ensuring that the transaction is compliant with local regulations. It is essential for both parties to be aware of the guideline value to avoid any potential discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kuppam Gandhi Nagar 2nd Street?

The current guideline value of Kuppam Gandhi Nagar 2nd Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification for Kuppam Gandhi Nagar 2nd Street?

Kuppam Gandhi Nagar 2nd Street is classified as Residential Class V Type - III.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Where is the Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.