Guideline Value for Kuppusamy Street Cross

Kuppusamy Street Cross guideline value

The current guideline value of Kuppusamy Street Cross is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village, under the Velacheri SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Kuppusamy Street Cross has changed

The guideline value for Kuppusamy Street Cross has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, a significant increase from the 2017 revision, which was Rs 1,675 per sq.ft. This marks a change of +64% from 2017 to 2024. Notably, there are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street.

In summary, the guideline value has seen a substantial increase from the previous revision in 2017 to the current value in 2024. The 2024 figure aligns with the median value for the 1823 streets in Madipakkam-1 under the Velacheri SRO, which also stands at Rs 2,750 per sq.ft.

Guideline values in Madipakkam-1

In Madipakkam-1, the guideline values range from Rs 1,650 to Rs 5,500 per sq.ft, with the median value being Rs 2,750 per sq.ft. Kuppusamy Street Cross's 2024 guideline value matches this median.

• Kuppusamy Street: Rs 2,750 per sq.ft (2024)
• Kuppusamy Street/Ramalinga Nagar: Rs 2,750 per sq.ft (2024)
• Kuppusamy Nagar Extn: Rs 2,200 per sq.ft (2024)
• Kuppusamy Nagar: Rs 2,200 per sq.ft (2024)
• Kusavan Kulam/Madipakkam Main Road: Rs 5,500 per sq.ft (2024)
• Kuyavan Kuttai: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kuppusamy Street Cross

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, and the registration fee at 2% would be Rs 55,000, leading to a total of 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.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kuppusamy Street Cross?

The Kuppusamy Street Cross falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your specific SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role in the registration process of property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is essential for both parties to understand the financial implications of the transaction. It helps in calculating the stamp duty and registration fees, which are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Kuppusamy Street Cross?

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

How much has the guideline value changed over the years?

From the 2017 revision to the 2024 revision, the guideline value increased from Rs 1,675 per sq.ft to Rs 2,750 per sq.ft, which is a change of +64%.

What are the other streets in Madipakkam-1 with their guideline values?

Other streets in Madipakkam-1 include Kuppusamy Street and Kuppusamy Street/Ramalinga Nagar, both at Rs 2,750 per sq.ft, Kuppusamy Nagar Extn and Kuppusamy Nagar at Rs 2,200 per sq.ft, Kusavan Kulam/Madipakkam Main Road at Rs 5,500 per sq.ft, and Kuyavan Kuttai at Rs 1,650 per sq.ft.

What is the registration fee for property in Kuppusamy Street Cross?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 27,50,000, the registration fee would be Rs 55,000.

Where can I find the Sub Registrar Office for Kuppusamy Street Cross?

The Velacheri Sub Registrar Office covers Kuppusamy Street Cross and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.