Guideline Value for NADUKUPPAM 2ND STREET

Nadukuppam 2nd Street guideline value

The current guideline value of Nadukuppam 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore Sub Registrar Office (SRO). The land classification for this area is Residential Class V Type - III.

How the guideline value of Nadukuppam 2nd Street has changed

The guideline value for Nadukuppam 2nd Street has seen significant changes over the years. In 2002, the value was Rs 579 per sq.ft, which increased to Rs 644 per sq.ft in 2003. There is no figure available for this street in the 2007 revision. The value then rose to Rs 3,000 per sq.ft in 2012, before decreasing to Rs 2,010 per sq.ft in 2017. The 2023 revision set the value at Rs 3,000 per sq.ft, and the most recent 2024 revision increased it to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. The value saw a decrease of 33% from 2012 to 2017. The jump from 2003 to 2012 was substantial, with a 366% increase. Overall, from 2002 to 2024, the guideline value has risen by 470%.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft as of 2024. The median value for these streets is Rs 8,800 per sq.ft, placing Nadukuppam 2nd Street's 2024 figure below that median.

• Nadukuppam 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total costs would be Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nadukuppam 2nd Street?

The Nadukuppam 2nd Street is covered by 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 plays a crucial role during property transactions in Mylapore. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The guideline value ensures that the government receives the correct amount of revenue based on the property's assessed worth.

When a buyer or seller registers a property, the guideline value is compared to the sale price, and the duty is charged on whichever is higher. This process helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Nadukuppam 2nd Street?

The current guideline value of Nadukuppam 2nd 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 579 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 470% over this period.

What is the land classification for Nadukuppam 2nd Street?

Nadukuppam 2nd Street is classified as Residential Class V Type - III.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Nadukuppam 2nd Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Mylapore Sub Registrar Office located?

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