Guideline Value for Kuppusamy St

Kuppusamy St guideline value

The current guideline value of Kuppusamy St in Chitlapakkam village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Kuppusamy St has changed

The guideline value for Kuppusamy St has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in the 2023 revision, and currently stands at Rs 2,750 per sq.ft as per the 2024 revision. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The overall change from the 2012 revision to the 2024 revision reflects a modest increase of 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that have a 2024 guideline value 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 St's 2024 figure above this median.

• Kuppusamy Nagar: Rs 1,100 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 St

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, these fees amount to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kuppusamy St?

The Kuppusamy St 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 crucial factor in the registration process of property transactions in Chitlapakkam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in real estate dealings. It is essential for buyers and sellers to be aware of these values to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Kuppusamy St?

The current guideline value of Kuppusamy St is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and is currently Rs 2,750 per sq.ft as of 2024.

What is the land classification for Kuppusamy St?

Kuppusamy St is classified as Residential Class I Type - II, indicating its use for residential purposes.

How does the guideline value affect property transactions?

The guideline value impacts the stamp duty and registration fees during property transactions. It is used as a reference to calculate the fees, ensuring that the transaction is recorded at a fair value.

Where can I find more information about the registration office?

The registration office covering Kuppusamy St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059. You can find more details by visiting the relevant link.