Guideline Value for Kuppusamy Colony 1st Lane

Kuppusamy Colony 1st Lane guideline value

The current guideline value of Kuppusamy Colony 1st Lane is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the jurisdiction of the Alandur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Kuppusamy Colony 1st Lane has changed

The guideline value for Kuppusamy Colony 1st Lane has seen several revisions over the years. In 2002, the value was Rs 497 per sq.ft, which increased to Rs 567 per sq.ft in 2003, marking a change of +14%. The value then rose significantly to Rs 900 per sq.ft in 2007, reflecting an increase of +59%. Following this, the value surged to Rs 3,500 per sq.ft in 2012, a remarkable increase of +289%. However, it decreased to Rs 2,345 per sq.ft in 2017, showing a decline of -33%. The value then climbed to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,900 per sq.ft in 2024, which is an increase of +11%.

Overall, from 2002 to 2024, the guideline value has increased by +685%. The register has no figures for the years not mentioned in this summary.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is equal to the current guideline value of Kuppusamy Colony 1st Lane.

• Kuppusamy Colony Main: Rs 3,900 per sq.ft (2024)
• Kuppusamy 2nd Lane: Rs 3,900 per sq.ft (2024)
• Kurinji Street: Rs 3,900 per sq.ft (2024)
• Kundrakudi Nagar (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Kundrakudi Nagar (Neruppu Medai) (Indira Gandhi School way): Rs 4,400 per sq.ft (2024)
• Kundrakudi Adigalar Nagar (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kuppusamy Colony 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000. Together, the total fees would be Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kuppusamy Colony 1st Lane?

The Kuppusamy Colony 1st Lane falls under 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 Adambakkam

The guideline value is an essential factor in property transactions in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the registration process. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When a property is bought or sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the stamp duty and registration fees. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Kuppusamy Colony 1st Lane?

The current guideline value of Kuppusamy Colony 1st Lane is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 497 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of +685% over the years.

What is the stamp duty for property in Kuppusamy Colony 1st Lane?

The stamp duty for property in Kuppusamy Colony 1st Lane is 7% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Kuppusamy Colony 1st Lane?

The Alandur Sub Registrar Office handles property registrations for Kuppusamy Colony 1st Lane, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Kuppusamy Colony 1st Lane?

The land classification for Kuppusamy Colony 1st Lane is Residential Class I Type - III.