Guideline Value for Kutti Thambiran Street

Kutti Thambiran Street guideline value

The current guideline value of Kutti Thambiran Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Vepery village and falls under the Periamet SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kutti Thambiran Street has changed

The guideline value for Kutti Thambiran Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 6,000 per sq.ft, which is an increase from Rs 5,500 per sq.ft in 2023, marking a change of +9%. Prior to that, the value was Rs 3,685 per sq.ft in 2017, which indicates a significant increase of +49% from that year to 2023. The 2012 revision, which also set the value at Rs 5,500 per sq.ft, reflects a decrease of -33% when compared to the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by +9%.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. This lack of data means that we can only analyze the changes from the years where figures are available.

Guideline values in Vepery

In Vepery village, 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 guideline value for these streets is Rs 4,800 per sq.ft, placing Kutti Thambiran Street's current value above that median.

• Kutti Thambiran Lane: 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would amount to 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 and the sale price.

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

Which Sub Registrar Office covers Kutti Thambiran Street?

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

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

The guideline value plays a crucial role during the registration of property transactions in Vepery. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay when acquiring property in the area.

When selling property, the guideline value is also considered to ensure that the transaction is registered at a value that reflects the current market conditions as set by the government. This helps maintain transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Kutti Thambiran Street?

The current guideline value of Kutti Thambiran Street 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 changed from Rs 5,500 per sq.ft in 2023 to Rs 6,000 per sq.ft in 2024, and from Rs 3,685 per sq.ft in 2017 to Rs 5,500 per sq.ft in 2023. Overall, from 2012 to 2024, the value increased by +9%.

What is the land classification for Kutti Thambiran Street?

Kutti Thambiran Street is classified as Residential Class II Type - I, which indicates its suitability for residential development.

What are the registration fees for property in Kutti Thambiran Street?

For a property valued at Rs 60,00,000, the stamp duty is Rs 4,20,000 at 7%, and the registration fee is Rs 1,20,000 at 2%, totaling Rs 5,40,000.

Which office handles the registration for Kutti Thambiran Street?

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