Guideline Value for NADUKUPPAM 6TH STREET

Nadukuppam 6th Street guideline value

The current guideline value of Nadukuppam 6th 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 6th Street has changed

The guideline value for Nadukuppam 6th Street has seen several revisions over the years. The earliest recorded value in 2002 was Rs 524 per sq.ft. This value increased to Rs 582 per sq.ft in 2003, marking an increase of 11%. The next significant jump occurred in 2007, where the value rose to Rs 900 per sq.ft, reflecting a 55% increase. In 2012, the value reached Rs 3,000 per sq.ft, which was a substantial increase of 233% from the previous revision.

From 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, representing a decline of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, followed by a further increase to the current guideline value of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year. There are no figures available for the revisions in 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 for these streets is Rs 8,800 per sq.ft, placing Nadukuppam 6th Street's 2024 figure below the median.

• Nadukuppam 5th Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 7th Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 4th Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 8th Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 3rd Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nadukuppam 6th Street

For a 1,000 sq.ft plot 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 amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total costs together 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. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Nadukuppam 6th Street?

The Sub Registrar Office that covers Nadukuppam 6th 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 an essential factor in property transactions in Mylapore, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value helps establish the stamp duty and registration fees that need to be paid, ensuring that both parties have a clear understanding of the financial obligations involved.

During the registration process, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the state government receives the necessary revenue from property transactions, while also providing a transparent framework for buyers and sellers.

Frequently asked questions

What is the current guideline value of Nadukuppam 6th Street?

The current guideline value of Nadukuppam 6th 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 undergone several revisions, starting from Rs 524 per sq.ft in 2002 to the current value of Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 530% since 2002.

What is the land classification for Nadukuppam 6th Street?

Nadukuppam 6th Street is classified as Residential Class V Type - III. This classification is important for determining the applicable guidelines and regulations for property transactions.

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

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total cost of Rs 2,97,000 in fees.

Where is the Sub Registrar Office for Nadukuppam 6th Street located?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. This office handles all registrations for properties in the area.