Guideline Value for Nadu Theru (Kuppam)

Nadu Theru (Kuppam) guideline value

The current guideline value of Nadu Theru (Kuppam) is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Nadu Theru (Kuppam) has changed

The guideline value for Nadu Theru (Kuppam) has experienced several revisions over the years. The 2007 revision set the value at Rs 500 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, in 2017, the value was revised to Rs 1,005 per sq.ft, marking a decrease of 33%. The value then rose to Rs 1,500 per sq.ft in 2023, before reaching the current rate of Rs 1,700 per sq.ft in 2024, reflecting a 13% increase from the previous year. The register has no figure for this street in 2002 and 2003.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 240%. The transition from Rs 1,005 per sq.ft in 2017 to Rs 1,700 per sq.ft in 2024 represents a substantial increase of 49% over that period.

Guideline values in Neelankarai

In Neelankarai village, there are 377 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing the 2024 guideline value of Nadu Theru (Kuppam) below this median.

• Muthu Mariammn Koil Street: Rs 1,700 per sq.ft (2024)
• Muthu Mariammn Koil 3rd Street: Rs 1,700 per sq.ft (2024)
• Muthu Mariammn Koil 2nd Street: Rs 1,700 per sq.ft (2024)
• Muthu Mariammn Koil 1st Street: Rs 1,700 per sq.ft (2024)
• Muthalamman Koil Street: Rs 1,700 per sq.ft (2024)
• Murali Avenue: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Nadu Theru (Kuppam)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees to Rs 1,53,000. 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 more details.

Which Sub Registrar Office covers Nadu Theru (Kuppam)?

The Sub Registrar Office that covers Nadu Theru (Kuppam) is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor during property transactions in Neelankarai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property based on its location and classification. Buyers should be aware that the actual sale price must be equal to or higher than the guideline value for registration purposes.

Frequently asked questions

What is the current guideline value of Nadu Theru (Kuppam)?

The current guideline value of Nadu Theru (Kuppam) is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased from Rs 500 per sq.ft to Rs 1,700 per sq.ft in 2024, marking a total increase of 240% over the years.

What are the stamp duty and registration fees for property in Nadu Theru (Kuppam)?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which office handles property registrations in Neelankarai?

The Neelankarai Sub Registrar Office handles property registrations in Neelankarai, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Nadu Theru (Kuppam)?

Nadu Theru (Kuppam) is classified as Residential Class III Type - I, indicating its suitability for residential purposes.