Guideline Value for Kuppuswamy Street (Vetri Nagar)

Kuppuswamy Street (Vetri Nagar) guideline value

The current guideline value of Kuppuswamy Street (Vetri Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Kuppuswamy Street (Vetri Nagar) has changed

The guideline value for Kuppuswamy Street (Vetri Nagar) has seen several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft. The 2023 revision set the value at Rs 3,000 per sq.ft, and the latest 2024 revision raised it to Rs 3,301 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 313%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value is Rs 3,301 per sq.ft, which aligns with the current guideline value of Kuppuswamy Street (Vetri Nagar). Below are other streets in Peravallur:

• Kumarasamy Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Lakshman Nagar 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Lakshman Nagar 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Lakshman Nagar East Central Road: Rs 2,700 per sq.ft (2024)
• Lakshman Nagar East Main Road: Rs 2,700 per sq.ft (2024)
• Lakshman Nagar Main Road: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kuppuswamy Street (Vetri Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value would be Rs 33,01,000. The stamp duty at 7% would amount to Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, bringing the total fees to Rs 2,97,090. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kuppuswamy Street (Vetri Nagar)?

Kuppuswamy Street (Vetri Nagar) is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your specific SRO, you can visit this link.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kuppuswamy Street (Vetri Nagar)?

The current guideline value of Kuppuswamy Street (Vetri Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 3,301 per sq.ft in 2024, reflecting an overall increase of 313% over the years.

What are the stamp duty and registration fees for property in Kuppuswamy Street (Vetri Nagar)?

The stamp duty for a property valued at Rs 33,01,000 would be Rs 2,31,070, and the registration fee would be Rs 66,020, totaling Rs 2,97,090.

Which office handles registrations for Kuppuswamy Street (Vetri Nagar)?

The Sembiam Sub Registrar Office handles registrations for Kuppuswamy Street (Vetri Nagar), located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Kuppuswamy Street (Vetri Nagar)?

The land classification for Kuppuswamy Street (Vetri Nagar) is Residential Special Type - II.