Guideline Value for Kuppu Lane

Kuppu Lane guideline value

The current guideline value of Kuppu Lane in Tondaiarpet village, under the Royapuram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Kuppu Lane has changed

The guideline value for Kuppu Lane has seen several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 600 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in the 2012 revision, marking a 100% rise. However, the most recent revision in 2024 set the guideline value at Rs 1,300 per sq.ft, reflecting an 8% increase from the previous figure.

It is important to note that there are no recorded figures for Kuppu Lane in the revisions of 2023, 2017, 2003, and 2002. Overall, from 2007 to 2024, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, indicating that Kuppu Lane's 2024 figure is below this median.

• Kuppu Chetty Street (Kuppa Chetty Street): Rs 1,300 per sq.ft (2024)
• Kuresan Street: Rs 2,700 per sq.ft (2024)
• Kumaresan Street: Rs 1,300 per sq.ft (2024)
• Kumarasamy Lane: Rs 1,300 per sq.ft (2024)
• Kumarappan Street: Rs 1,300 per sq.ft (2024)
• K.V.K. Swamy street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kuppu Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty is charged at 7%, which totals Rs 91,000, and the registration fee at 2% amounts to Rs 26,000. Together, the total cost for these fees is Rs 1,17,000. 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 Kuppu Lane?

Kuppu Lane is covered by the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Tondaiarpet. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. When registering a property, the guideline value is considered along with the sale price to ascertain the applicable fees.

This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government. Buyers and sellers should always refer to the latest guideline values to understand their financial obligations during a property transaction.

Frequently asked questions

What is the current guideline value of Kuppu Lane?

The current guideline value of Kuppu Lane is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, which is an overall increase of 117%.

What are the stamp duty and registration fees for properties in Kuppu Lane?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Where is the Sub Registrar Office for Kuppu Lane located?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification for Kuppu Lane?

Kuppu Lane falls under the Residential Class II Type - I land classification.