Guideline Value for Kutti Thambiran Lane

Kutti Thambiran Lane guideline value

The current guideline value of Kutti Thambiran Lane is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Vepery village, under the Periamet Sub Registrar Office (SRO), and is classified as Residential Class II Type - I.

How the guideline value of Kutti Thambiran Lane has changed

The guideline value for Kutti Thambiran Lane has seen several revisions over the years. The earliest available figure is from the 2012 revision, which was Rs 5,500 per sq.ft. This was followed by a decrease to Rs 3,685 per sq.ft in the 2017 revision. The 2023 revision marked an increase to Rs 5,500 per sq.ft, and the most recent 2024 revision has set the value at Rs 6,000 per sq.ft. Notably, the register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The transition from 2023 to 2024 reflects a positive change of 9%. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median value for these streets is Rs 4,800 per sq.ft, making the 2024 figure for Kutti Thambiran Lane above the median.

• Kutti Thambiran Street: Rs 6,000 per sq.ft (2024)
• Kuppu Street: Rs 6,000 per sq.ft (2024)
• Kunnathamman Naicken Street: Rs 4,800 per sq.ft (2024)
• Kumarasamy Rajapuram: Rs 2,700 per sq.ft (2024)
• Kumarasamy Raja Ist Street: Rs 2,700 per sq.ft (2024)
• Kumarasamy RaJa 3rd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kutti Thambiran Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, while the registration fee at 2% would be Rs 1,20,000. Together, the total cost for these fees would be Rs 5,40,000. 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 Kutti Thambiran Lane?

The Sub Registrar Office that covers Kutti Thambiran Lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Vepery. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This value is important for both buyers and sellers to understand, as it impacts the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kutti Thambiran Lane?

The current guideline value of Kutti Thambiran Lane is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, with the most recent increase from Rs 5,500 per sq.ft in 2023 to Rs 6,000 per sq.ft in 2024. The value increased significantly from Rs 3,685 per sq.ft in 2017 to Rs 5,500 per sq.ft in 2023.

What is the land classification for Kutti Thambiran Lane?

Kutti Thambiran Lane is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Tamil Nadu is typically charged at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where can I find the Sub Registrar Office for Kutti Thambiran Lane?

The Sub Registrar Office for Kutti Thambiran Lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.