Guideline Value for Kuppusamy Street LAYOUT

Kuppusamy Street LAYOUT guideline value

The current guideline value of Kuppusamy Street LAYOUT is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kuppusamy Street LAYOUT has changed

The guideline value for Kuppusamy Street LAYOUT has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 4,000 per sq.ft. This was followed by a decrease to Rs 2,680 per sq.ft in 2017. In 2023, the guideline value increased to Rs 4,000 per sq.ft, and the most recent revision in 2024 set it at Rs 4,400 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

Between the revisions, the changes are as follows: from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The 2023 to 2024 revision reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Nanganallur

Nanganallur village has a total of 155 streets under the Alandur SRO, with 2024 guideline values ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, placing Kuppusamy Street LAYOUT's 2024 figure above this median.

• Kulakkarai Street: Rs 3,300 per sq.ft (2024)
• Kulakkarai Lane: Rs 3,900 per sq.ft (2024)
• Kulakkarai 2nd Street: Rs 3,900 per sq.ft (2024)
• Kulakkarai 2nd Lane: Rs 3,900 per sq.ft (2024)
• Kulakkarai 1st Street: Rs 3,900 per sq.ft (2024)
• Kulakkarai 1st Lane: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kuppusamy Street LAYOUT

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total charges to Rs 3,96,000. It is important to note that 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 Street LAYOUT?

The Sub Registrar Office that covers Kuppusamy Street LAYOUT 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 Nanganallur

The guideline value is a crucial factor in the registration process for property transactions in Nanganallur. It determines the minimum value at which a property can be registered and affects the stamp duty and registration fees that buyers must pay.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and tax purposes. Buyers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Kuppusamy Street LAYOUT?

The current guideline value of Kuppusamy Street LAYOUT is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 in 2012 to Rs 2,680 in 2017, then back to Rs 4,000 in 2023, and finally to Rs 4,400 in 2024. The register has no figures for the years 2002, 2003, and 2007.

What is the land classification for Kuppusamy Street LAYOUT?

Kuppusamy Street LAYOUT is classified as Residential Class I Type - I. This classification indicates the type of development and usage permitted in the area.

Where can I find the registration office for Kuppusamy Street LAYOUT?

The registration office covering Kuppusamy Street LAYOUT is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Nanganallur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at the rate of 7%.