Guideline Value for Kuppusamy Nagar

Kuppusamy Nagar guideline value

The current guideline value of Kuppusamy Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Chitlapakkam village under the Tambaram Joint 1 SRO and is classified as Residential Class II Type - II.

How the guideline value of Kuppusamy Nagar has changed

The guideline value for Kuppusamy Nagar has seen several revisions over the years. In 2012, the value was set at Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in 2017, before rising again to Rs 1,000 per sq.ft in 2023. The most recent revision in 2024 has increased the value to Rs 1,100 per sq.ft. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, and by 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

Chitlapakkam has a total of 548 streets under the Tambaram Joint 1 SRO with guideline values for 2024 ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Kuppusamy Nagar's 2024 figure below this median.

• Kuppusamy St: Rs 2,750 per sq.ft (2024)
• Kuppachary Street: Rs 3,850 per sq.ft (2024)
• Kumar Street: Rs 1,100 per sq.ft (2024)
• Kumaran Street: Rs 1,650 per sq.ft (2024)
• Kulothungan street: Rs 2,750 per sq.ft (2024)
• Lakshmi Nagar: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kuppusamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty, charged at 7%, would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. 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 further calculations.

Which Sub Registrar Office covers Kuppusamy Nagar?

Kuppusamy Nagar falls under the Tambaram Joint 1 Sub Registrar Office located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Chitlapakkam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected based on the established values. This process is essential for maintaining transparency and legality in property transactions.

Frequently asked questions

What is the current guideline value of Kuppusamy Nagar?

The current guideline value of Kuppusamy Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Kuppusamy Nagar?

Kuppusamy Nagar is classified as Residential Class II Type - II under the guideline value register.

Where can I find the Sub Registrar Office for Kuppusamy Nagar?

The Sub Registrar Office covering Kuppusamy Nagar is the Tambaram Joint 1 SRO, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Kuppusamy Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current rate, the total guideline value is Rs 11,00,000, leading to a stamp duty of Rs 77,000.