Guideline Value for NADUKUPPAM 1ST STREET

Nadukuppam 1st Street guideline value

The current guideline value of Nadukuppam 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - III.

How the guideline value of Nadukuppam 1st Street has changed

The guideline value for Nadukuppam 1st Street has seen significant changes over the years. Starting from the 2002 revision, the value was Rs 524 per sq.ft. In 2003, there was an increase of 11%, bringing the value to Rs 582 per sq.ft. The next revision in 2012 saw a substantial jump of 415%, resulting in a value of Rs 3,000 per sq.ft. This value remained unchanged through the 2023 revision.

In 2024, the guideline value was revised again to Rs 3,300 per sq.ft, marking a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 530%. It is important to note that there are no figures available for the revisions in 2007 and 2017 for this street.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry a guideline value for 2024, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, making the guideline value for Nadukuppam 1st Street below the median.

• Nadukuppam 2nd Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 3rd Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 4th Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 5th Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 6th Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 7th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nadukuppam 1st Street

For a property measuring 1,000 sq.ft at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would amount to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nadukuppam 1st Street?

The Sub Registrar Office that covers Nadukuppam 1st Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is a crucial factor when it comes to property registration in Mylapore. It serves as a reference point for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value directly influences the stamp duty and registration fees applicable during a property transaction.

When a property is sold, the guideline value is used to calculate the applicable charges, ensuring that the transaction is conducted at a legally recognized value. This helps in maintaining transparency in property transactions and ensures that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Nadukuppam 1st Street?

The current guideline value of Nadukuppam 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 524 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 530% over the years.

What is the stamp duty for properties in Nadukuppam 1st Street?

The stamp duty for properties in Nadukuppam 1st Street is calculated at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Nadukuppam 1st Street located?

The Sub Registrar Office for Nadukuppam 1st Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum value for property registration and to calculate the applicable stamp duty and registration fees during a transaction.