Guideline Value for Kuppu Street (Ward-1)

Kuppu Street (Ward-1) guideline value

The current guideline value of Kuppu Street (Ward-1) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Kuppu Street (Ward-1) has changed

The guideline value for Kuppu Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the current 2024 revision has raised it further to Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, indicating that Kuppu Street's 2024 figure is below this median.

• Kurinji Nagar: Rs 1,300 per sq.ft (2024)
• KVS Street, Mrh Road (Ward-10): Rs 1,300 per sq.ft (2024)
• K.V.T. Garden Phase-I: Rs 2,700 per sq.ft (2024)
• K.V.T. Garden Phase-II: Rs 2,700 per sq.ft (2024)
• Kvt Garden Phase-III: Rs 2,700 per sq.ft (2024)
• Kumarappa Puram (P&T) Colony: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kuppu Street (Ward-1)

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 at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total cost for these fees Rs 1,17,000. Please note that 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 information.

Which Sub Registrar Office covers Kuppu Street (Ward-1)?

The Sub Registrar Office that covers Kuppu Street (Ward-1) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process for property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be sold or bought, ensuring that the transaction is recorded accurately.

When registering a property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are mandatory for legal documentation. This ensures that both buyers and sellers are aware of the financial obligations involved in the property transaction.

Frequently asked questions

What is the current guideline value of Kuppu Street (Ward-1)?

The current guideline value of Kuppu Street (Ward-1) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft, which means Kuppu Street's 2024 figure is below this median.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles registrations for Kuppu Street (Ward-1)?

The Madhavaram Sub Registrar Office handles registrations for Kuppu Street (Ward-1), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.