Guideline Value for Nettukkuppam

Nettukkuppam guideline value

The current guideline value of Nettukkuppam is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is located in Kathivakkam village under the Thiruvottiyur SRO, classified as Residential Class I Type - II.

How the guideline value of Nettukkuppam has changed

The guideline value for Nettukkuppam has undergone several revisions over the years. In 2007, the guideline value was Rs 200 per sq.ft, which increased to Rs 600 per sq.ft in 2012. However, there was a decrease to Rs 402 per sq.ft in 2017. Following this, the value rose significantly to Rs 1,000 per sq.ft in both 2023 and 2024, indicating a total increase of 400% from 2007 to 2024.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. The guideline value remained at Rs 1,000 per sq.ft from 2023 to 2024, reflecting no change during that period, while the increase from 2017 to 2023 was 149%.

Guideline values in Kathivakkam

In Kathivakkam, there are 47 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,600 per sq.ft. The median value for these streets is Rs 1,001 per sq.ft, placing Nettukkuppam's 2024 figure below that median.

• Nehru Nagar: Rs 1,100 per sq.ft (2024)
• Mugathuvara kuppam: Rs 1,000 per sq.ft (2024)
• Periyakuppam: Rs 1,001 per sq.ft (2024)
• Pillai Thottam: Rs 1,001 per sq.ft (2024)
• Ponga Nagar(Nehru Nagar): Rs 1,100 per sq.ft (2024)
• Porkaliyamman Koil Street: Rs 1,001 per sq.ft (2024)

Stamp duty and registration fee for property in Nettukkuppam

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, making a total of Rs 90,000. 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 Nettukkuppam?

The Nettukkuppam area falls under the Thiruvottiyur Sub Registrar Office located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kathivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the transaction is recorded at a value that reflects the property's worth according to government standards.

Frequently asked questions

What is the current guideline value of Nettukkuppam?

The current guideline value of Nettukkuppam is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2024, marking a total increase of 400% over the years.

What are the other streets in Kathivakkam and their guideline values?

Other streets in Kathivakkam include Nehru Nagar at Rs 1,100 per sq.ft, Mugathuvara kuppam at Rs 1,000 per sq.ft, and Periyakuppam at Rs 1,001 per sq.ft, among others.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the stamp duty calculated for properties in Nettukkuppam?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 at 7%.