Guideline Value for NADUKUPPAM 5TH STREET

Nadukuppam 5th Street guideline value

The current guideline value of Nadukuppam 5th 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 5th Street has changed

The guideline value for Nadukuppam 5th Street has seen several revisions over the years. In 2002, the guideline value was Rs 524 per sq.ft. This increased to Rs 582 per sq.ft in 2003, marking an 11% rise. The value continued to grow, reaching Rs 900 per sq.ft in 2007, which was a significant increase of 55%. By 2012, the value was Rs 3,000 per sq.ft, reflecting a 233% increase from 2007. However, it then decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, and most recently to Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 530%. The register shows no figures for revisions in years other than those mentioned.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO with 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. Nadukuppam 5th Street's 2024 figure is below this median.

• Nadukuppam 4th Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 6th Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 3rd Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 7th Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 2nd Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 8th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nadukuppam 5th Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nadukuppam 5th Street?

The Sub Registrar Office that covers Nadukuppam 5th 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 plays a crucial role in the registration process when buying or selling property in Mylapore. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that these charges are based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair price, reflecting the current values in the area. This helps maintain transparency in property transactions and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Nadukuppam 5th Street?

The current guideline value of Nadukuppam 5th 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 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 land classification of Nadukuppam 5th Street?

Nadukuppam 5th Street is classified as Residential Class V Type - III.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers this street?

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