Guideline Value for Kuppan Street

Kuppan Street guideline value

The current guideline value of Kuppan Street in Nemilicherry village is Rs 2,160 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Kuppan Street has changed

The guideline value for Kuppan Street has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which significantly increased to Rs 2,000 per sq.ft in 2012. However, this value decreased to Rs 1,340 per sq.ft in 2017. The 2023 revision marked another increase to Rs 2,000 per sq.ft, culminating in the current value of Rs 2,160 per sq.ft from the 2024 revision. There are no figures available for the revisions in 2002 and 2003 for this street.

From 2007 to 2024, the overall change in guideline value is an increase of 764%. The transition from the 2012 revision to the 2017 revision saw a decrease of 33%, while the subsequent increase from 2017 to 2023 was 49%. The most recent change from 2023 to 2024 reflects an increase of 8%.

Guideline values in Nemilicherry

Nemilicherry village has a total of 172 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,160 per sq.ft, which is equal to the current guideline value of Kuppan Street.

• Kuppu Naicken Pettai: Rs 2,160 per sq.ft (2024)
• Kurathiamman Koil Cross Street: Rs 2,160 per sq.ft (2024)
• Kurathiamman Koil Street: Rs 2,160 per sq.ft (2024)
• Kurinji Nagar: Rs 2,420 per sq.ft (2024)
• Kumarapuram: Rs 2,750 per sq.ft (2024)
• Kumaran Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kuppan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total fees to Rs 1,94,400. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kuppan Street?

Kuppan Street is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Nemilicherry. It serves as a benchmark for determining the minimum price at which a property can be registered. When buyers and sellers agree on a sale price, the registration office will use the guideline value to calculate the applicable stamp duty and registration fees.

During the registration process, the guideline value ensures that the transaction reflects a fair valuation of the property. This helps maintain transparency and compliance with local regulations, ensuring that both parties are aware of the financial obligations involved in the sale.

Frequently asked questions

What is the current guideline value of Kuppan Street?

The current guideline value of Kuppan Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 250 per sq.ft in 2007 to Rs 2,160 per sq.ft in 2024, reflecting an overall increase of 764% over the years.

What are the stamp duty and registration fees for properties in Kuppan Street?

For a property valued at Rs 21,60,000, the stamp duty would be Rs 1,51,200 and the registration fee would be Rs 43,200, totaling Rs 1,94,400.

Which office handles registrations for Kuppan Street?

The Pallavaram Sub Registrar Office handles registrations for Kuppan Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Kuppan Street?

Kuppan Street is classified as Residential Class II Type - I according to the local land classification norms.