Guideline Value for NADUKUPPAM 7TH STREET

Nadukuppam 7th Street guideline value

The current guideline value of Nadukuppam 7th 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 7th Street has changed

The guideline value for Nadukuppam 7th Street has undergone 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 11% rise. The value saw a significant jump to Rs 900 per sq.ft in 2007, representing a 55% increase. Following that, the value surged to Rs 3,000 per sq.ft in 2012, a remarkable 233% increase. 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, before reaching the current figure of 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%. There are no figures available for revisions in years other than those listed.

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 guideline value in this area is Rs 8,800 per sq.ft, indicating that Nadukuppam 7th Street's current value is below this median.

• Nadukuppam 6th Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 8th Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 5th Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 4th Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nadukuppam 7th 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 to 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nadukuppam 7th Street?

The Sub Registrar Office that covers Nadukuppam 7th 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 details.

How the guideline value is used when you buy or sell in Mylapore

The guideline value is a crucial factor during the registration of property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are calculated appropriately.

When buying or selling property, the guideline value helps in establishing a fair transaction price, as it is used to assess the value for stamp duty and registration fees. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Nadukuppam 7th Street?

The current guideline value of Nadukuppam 7th 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, representing a total increase of 530% over the years.

What is the registration office for Nadukuppam 7th Street?

The registration office for Nadukuppam 7th Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What are the stamp duty and registration fees for property in Nadukuppam 7th Street?

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.

What land classification is Nadukuppam 7th Street?

Nadukuppam 7th Street is classified as Residential Class V Type - III, which is important for understanding its use and value in real estate transactions.