Guideline Value for Kuppamani Thoppu

Kuppamani Thoppu guideline value

The current guideline value of Kuppamani Thoppu, located in Naravarikuppam village under the Redhills SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Kuppamani Thoppu has changed

The guideline value for Kuppamani Thoppu has seen several revisions over the years. In 2002, the guideline value was Rs 3,283 per sq.ft. This figure dropped significantly to Rs 335 per sq.ft in 2003, marking a decrease of 90%. The value then increased to Rs 400 per sq.ft in 2007, a rise of 19%. Following this, the value surged to Rs 1,200 per sq.ft in 2012, reflecting a substantial increase of 200%. However, it decreased to Rs 804 per sq.ft in 2017, a decline of 33%. The value then rose again to Rs 1,200 per sq.ft in 2023, and finally reached the current rate of Rs 1,320 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has decreased by 60%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Naravarikuppam

Naravarikuppam village has a total of 112 streets under the Redhills SRO, with guideline values ranging from Rs 1,320 to Rs 3,300 per sq.ft in 2024. The median guideline value for the village is Rs 1,650 per sq.ft, placing Kuppamani Thoppu's current value below this median.

• Lakshmi Amman Kovil Street: Rs 1,320 per sq.ft (2024)
• Madhavaram Redhills Road: Rs 3,300 per sq.ft (2024)
• Makkal Murpokku Manram Street: Rs 1,650 per sq.ft (2024)
• Kavangarai Street: Rs 1,320 per sq.ft (2024)
• Kattabomman Street: Rs 1,650 per sq.ft (2024)
• Kattabomman Main Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kuppamani Thoppu

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kuppamani Thoppu?

The Kuppamani Thoppu area falls under the jurisdiction of the Redhills Sub Registrar Office. The office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Naravarikuppam. It serves as a benchmark for determining the minimum value of the property, ensuring that the registration reflects a fair value for taxation purposes.

When a property is registered, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the transaction. Buyers and sellers should be aware of the guideline value to understand the costs associated with the registration process.

Frequently asked questions

What is the current guideline value of Kuppamani Thoppu?

The current guideline value of Kuppamani Thoppu is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 3,283 per sq.ft in 2002, dropping to Rs 335 per sq.ft in 2003, and reaching the current value of Rs 1,320 per sq.ft in 2024.

What are the other streets in Naravarikuppam and their guideline values?

Other streets in Naravarikuppam include Lakshmi Amman Kovil Street at Rs 1,320 per sq.ft, Madhavaram Redhills Road at Rs 3,300 per sq.ft, and Makkal Murpokku Manram Street at Rs 1,650 per sq.ft, among others.

What are the fees associated with buying property in Kuppamani Thoppu?

The fees include stamp duty at 7% and a registration fee at 2% of the guideline value. For a 1,000 sq.ft plot, these fees total Rs 1,18,800.

Where is the Sub Registrar Office for Kuppamani Thoppu located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.