Guideline Value for Kuppu Street

Kuppu Street guideline value

The current guideline value of Kuppu Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Vepery village, under the Periamet Sub Registrar Office, with a land classification of Residential Class II Type - I.

How the guideline value of Kuppu Street has changed

Over the years, the guideline value of Kuppu Street has seen significant changes. In the 2007 revision, the value was Rs 1,000 per sq.ft, which increased dramatically to Rs 5,500 per sq.ft in 2012, marking a rise of 450%. However, from 2012 to 2017, the value dropped to Rs 3,685 per sq.ft, a decrease of 33%. The value then rose to Rs 5,500 per sq.ft in the 2023 revision, reflecting a 49% increase. Most recently, the 2024 revision set the value at Rs 6,000 per sq.ft, a 9% increase from the previous year.

It is important to note that the register has no figures for Kuppu Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 500%.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median value for these streets is Rs 4,800 per sq.ft, placing Kuppu Street's 2024 figure above that median.

• Kunnathamman Naicken Street: Rs 4,800 per sq.ft (2024)
• Kutti Thambiran Lane: Rs 6,000 per sq.ft (2024)
• Kutti Thambiran Street: Rs 6,000 per sq.ft (2024)
• Kumarasamy Rajapuram: Rs 2,700 per sq.ft (2024)
• Kumarasamy Raja Ist Street: Rs 2,700 per sq.ft (2024)
• Kumarasamy RaJa 3rd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kuppu Street

For a 1,000 sq.ft plot at the current rate of Rs 6,000 per sq.ft, the guideline value would be Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, totaling Rs 5,40,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kuppu Street?

Kuppu Street falls under the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Vepery. It is the minimum value at which properties are registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is referenced to determine the applicable fees. Buyers should be aware that the final cost may vary based on the sale price, but it cannot be lower than the guideline value set by the authorities.

Frequently asked questions

What is the current guideline value of Kuppu Street?

The current guideline value of Kuppu Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,000 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, which is a total increase of 500% over this period.

What is the median guideline value for streets in Vepery?

The median guideline value for streets in Vepery is Rs 4,800 per sq.ft, with Kuppu Street's 2024 figure being above this median.

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

For a property valued at Rs 60,00,000, the stamp duty would be Rs 4,20,000 and the registration fee would be Rs 1,20,000, totaling Rs 5,40,000.

Which office handles the registration for Kuppu Street?

The Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003, handles the registration for Kuppu Street.