Guideline Value for Kuppuswamy Nagar

Kuppuswamy Nagar guideline value

The current guideline value of Kuppuswamy Nagar is Rs 1,540 per sq.ft, effective from 1 July 2024. This street is located in Chennerkuppam village, under the Kunrathur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Kuppuswamy Nagar has changed

The guideline value of Kuppuswamy Nagar has undergone several revisions over the years. The 2007 revision set the value at Rs 300 per sq.ft, which saw a significant increase to Rs 1,400 per sq.ft in 2012. However, this value decreased to Rs 938 per sq.ft in the 2017 revision. The 2023 revision raised the value to Rs 1,400 per sq.ft, and the most recent revision in 2024 has set it at Rs 1,540 per sq.ft, marking a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 413%. Notably, the increase from 2017 to 2023 was 49%, while the jump from 2012 to 2017 was a decrease of 33%. The substantial rise from 2007 to 2012 of 367% reflects the changing landscape of property values in the area.

Guideline values in Chennerkuppam

In Chennerkuppam, there are 74 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,895 per sq.ft. The median value for these streets is Rs 1,540 per sq.ft, which matches the current guideline value for Kuppuswamy Nagar.

• Leelavathi Nagar: Rs 1,430 per sq.ft (2024)
• Magizam Avenue: Rs 1,430 per sq.ft (2024)
• Mariamman koil Street: Rs 1,540 per sq.ft (2024)
• Masilamani Nagar: Rs 1,320 per sq.ft (2024)
• Mettu Street: Rs 1,320 per sq.ft (2024)
• Kamarajar Veethi: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kuppuswamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value would be Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, bringing the total cost together to Rs 1,38,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kuppuswamy Nagar?

The Sub Registrar Office that covers Kuppuswamy Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Chennerkuppam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

Frequently asked questions

What is the current guideline value of Kuppuswamy Nagar?

The current guideline value of Kuppuswamy Nagar is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 300 per sq.ft in 2007 to Rs 1,540 per sq.ft in 2024, reflecting a total increase of 413% over the years.

What are the stamp duty and registration fees for properties in Kuppuswamy Nagar?

For a property valued at Rs 15,40,000, the stamp duty would be Rs 1,07,800 and the registration fee would be Rs 30,800, totaling Rs 1,38,600.

Which office handles property registrations for Kuppuswamy Nagar?

The Kunrathur Sub Registrar Office handles property registrations for Kuppuswamy Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the purpose of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees when buying or selling property. It ensures that these fees are calculated based on a standardized property value.