Guideline Value for NADUKUPPAM 8TH STREET

Nadukuppam 8th Street guideline value

The current guideline value of Nadukuppam 8th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the jurisdiction of the Mylapore SRO. The land classification for this area is Residential Class V Type - III.

How the guideline value of Nadukuppam 8th Street has changed

The guideline value for Nadukuppam 8th Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 524 per sq.ft. This 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, which was a 55% increase. Following that, the value surged to Rs 3,000 per sq.ft in 2012, reflecting a substantial 233% increase. However, the value decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The guideline value then rose to Rs 3,000 per sq.ft in 2023, before reaching the current 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 the years not listed in the register. The overall change from 2002 to 2024 shows an increase of 530% in the guideline value for Nadukuppam 8th Street.

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 guideline value in this area is Rs 8,800 per sq.ft, indicating that Nadukuppam 8th Street's 2024 figure is below that median.

• Nadukuppam 7th Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 6th Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 5th Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 4th Street: Rs 3,300 per sq.ft (2024)
• Nadu Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Nadukuppam 8th 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, bringing the total fees together to Rs 2,97,000. It is important to note that the stamp duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nadukuppam 8th Street?

The Sub Registrar Office that covers Nadukuppam 8th 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 for property transactions in Mylapore. It serves as a benchmark to determine the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in accordance with the prevailing rates.

When buying or selling property, the guideline value influences the amount of stamp duty and registration fees payable. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Nadukuppam 8th Street?

The current guideline value of Nadukuppam 8th 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 seen several revisions, with the most recent increase being from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, a change of 10%.

What is the overall change in guideline value from 2002 to 2024?

From 2002 to 2024, the overall change in guideline value for Nadukuppam 8th Street is an increase of 530%.

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 office handles the registration of properties in Nadukuppam 8th Street?

The Mylapore Sub Registrar Office handles the registration of properties in Nadukuppam 8th Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.