Guideline Value for NADUKUPPAM STREET

Nadukuppam Street guideline value

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

How the guideline value of Nadukuppam Street has changed

Over the years, the guideline value of Nadukuppam 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, marking an increase of 11%. The value then rose to Rs 900 per sq.ft in 2007, a substantial increase of 55%. Following that, the value jumped to Rs 3,000 per sq.ft in 2012, reflecting a 233% rise. There is no figure available for the year 2017. The 2023 revision maintained the value at Rs 3,000 per sq.ft, and in the latest 2024 revision, the guideline value increased to Rs 3,300 per sq.ft, a change of 10%.

Overall, from 2002 to 2024, the guideline value has increased by 530%. This consistent rise highlights the evolving nature of property values in this locality.

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 Street's 2024 guideline value is below this median.

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

Stamp duty and registration fee for property in Nadukuppam 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, totaling Rs 2,97,000. It is important to note that the 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 Street?

The Sub Registrar Office that covers Nadukuppam 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

When buying or selling property in Mylapore, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value serves as a benchmark for calculating these fees, ensuring that they are based on the official valuation of the property rather than the negotiated sale price.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the overall cost of the transaction. Understanding the guideline value can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Nadukuppam Street?

The current guideline value of Nadukuppam 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 significantly, from Rs 524 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 530% over this period.

What is the role of the Mylapore SRO?

The Mylapore SRO is responsible for maintaining the guideline values for properties in the Mylapore area, including Nadukuppam Street, and facilitating property registrations.

How is stamp duty calculated for properties in Nadukuppam Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.

Are there other streets in Mylapore with similar guideline values?

Yes, several other streets in Mylapore have a guideline value of Rs 3,300 per sq.ft in 2024, including Nadukuppam 8th Street, Nadukuppam 7th Street, Nadukuppam 6th Street, Nadukuppam 5th Street, and Nadukuppam 4th Street.