Guideline Value for NADUKUPPAM 4TH STREET

Nadukuppam 4th Street guideline value

The current guideline value of Nadukuppam 4th 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 4th Street has changed

Since the year 2002, the guideline value of Nadukuppam 4th Street has seen significant changes. In 2002, the value was Rs 524 per sq.ft, which increased to Rs 582 per sq.ft in 2003, representing a change of +11%. The value then rose to Rs 900 per sq.ft in 2007, marking a substantial increase of +55%. Following this, the value surged to Rs 3,000 per sq.ft in 2012, showing an increase of +233%. However, it then decreased to Rs 2,010 per sq.ft in 2017, reflecting a decline of -33%. The value rose again to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft in 2024, with an increase of +10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +530%. There are no figures available for revisions in the years not listed in the register.

Guideline values in Mylapore

In Mylapore village, 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. The median value is Rs 8,800 per sq.ft, placing Nadukuppam 4th Street's 2024 figure below this median.

• Nadukuppam 3rd Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 5th Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 2nd Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 6th Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 1st 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 4th Street

For a 1,000 sq.ft plot at the current rate, the guideline value is 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, bringing the total to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nadukuppam 4th Street?

The Sub Registrar Office that covers Nadukuppam 4th 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 critical factor in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the minimum value at which property transactions can be registered, ensuring transparency in property dealings.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, reflecting the property's worth in the market.

Frequently asked questions

What is the current guideline value of Nadukuppam 4th Street?

The current guideline value of Nadukuppam 4th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 524 per sq.ft to Rs 3,300 per sq.ft in 2024, marking an overall increase of +530% over the years.

What is the median guideline value in Mylapore?

The median guideline value in Mylapore is Rs 8,800 per sq.ft for the year 2024, with Nadukuppam 4th Street's value being below this median.

What are the stamp duty rates for properties in Nadukuppam 4th Street?

The stamp duty for properties in Nadukuppam 4th Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Nadukuppam 4th Street located?

The Sub Registrar Office for Nadukuppam 4th Street is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.