Guideline Value for Kuppu Swamy Nagar

Kuppu Swamy Nagar guideline value

The current guideline value for Kuppu Swamy Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Ullagaram village under the Alandur SRO, classified as Residential Class II Type - II.

How the guideline value of Kuppu Swamy Nagar has changed

The guideline value for Kuppu Swamy Nagar has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 160 per sq.ft. In 2003, it increased to Rs 180 per sq.ft, marking a 13% rise. The 2007 revision brought a substantial increase to Rs 1,000 per sq.ft, which was a 456% jump. In 2012, the value was Rs 2,000 per sq.ft, reflecting a 100% increase from the previous revision. The 2017 revision saw a decrease to Rs 1,340 per sq.ft, a decline of 33%. The guideline value then rose to Rs 2,000 per sq.ft in 2023, before reaching the current value of Rs 2,200 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1,275%. The register does not have figures for the years not mentioned in the revisions.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median value of Rs 2,800 per sq.ft. Kuppu Swamy Nagar's current 2024 figure is below this median.

• Kuppuswamy Cross Street: Rs 2,200 per sq.ft (2024)
• Kuppu swamy Street Main: Rs 2,200 per sq.ft (2024)
• Kuppu Sami Street: Rs 2,200 per sq.ft (2024)
• K V K Samy street: Rs 2,200 per sq.ft (2024)
• Lakshma Nagar 5th Street Extension: Rs 2,800 per sq.ft (2024)
• Lakshmi Nagar 10th Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kuppu Swamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost Rs 1,98,000. It is important to note that the 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 details.

Which Sub Registrar Office covers Kuppu Swamy Nagar?

The Sub Registrar Office that covers Kuppu Swamy Nagar is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ullagaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kuppu Swamy Nagar?

The current guideline value for Kuppu Swamy Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 160 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1,275% over this period.

What is the land classification of Kuppu Swamy Nagar?

Kuppu Swamy Nagar is classified as Residential Class II Type - II, which indicates its designation for residential development.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Kuppu Swamy Nagar located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061, covering Kuppu Swamy Nagar.