Guideline Value for NADUKUPPAM 3RD STREET

Nadukuppam 3rd Street guideline value

The current guideline value of Nadukuppam 3rd 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 falls under the Residential Class V Type - III land classification.

How the guideline value of Nadukuppam 3rd Street has changed

The guideline value for Nadukuppam 3rd Street has seen several revisions over the years. In 2002, the value was Rs 524 per sq.ft, which increased to Rs 582 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 3,000 per sq.ft in 2012, a substantial increase of 415%. However, it decreased to Rs 2,010 per sq.ft in 2017, reflecting a decline of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

It is important to note that there is no figure available for Nadukuppam 3rd Street in the 2007 revision. Overall, from 2002 to 2024, the guideline value has increased by 530%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value of Nadukuppam 3rd Street is below this median.

• Nadukuppam 2nd Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 4th Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 1st 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 3rd 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 at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost for these fees Rs 2,97,000. 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 accurate calculations.

Which Sub Registrar Office covers Nadukuppam 3rd Street?

The Sub Registrar Office that covers Nadukuppam 3rd 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 in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the buyer must pay the stamp duty based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nadukuppam 3rd Street?

The current guideline value of Nadukuppam 3rd 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 several times, starting from Rs 524 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, which represents an overall increase of 530%.

What is the land classification for Nadukuppam 3rd Street?

Nadukuppam 3rd Street falls under the Residential Class V Type - III land classification.

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.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.