Guideline Value for THIRUVOTTIYUR KUPPAM

Thiruvottiyur Kuppam guideline value

The current guideline value of Thiruvottiyur Kuppam is Rs 2,150 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village and falls under the Thiruvottiyur SRO. The land classification is Residential Class I Type - II.

How the guideline value of Thiruvottiyur Kuppam has changed

The guideline value for Thiruvottiyur Kuppam has seen several revisions over the years. In 2002, the value was Rs 158 per sq.ft, which increased to Rs 185 per sq.ft in 2003. Following this, the value rose significantly to Rs 400 per sq.ft in 2007, and then to Rs 2,000 per sq.ft in 2012. However, it dropped to Rs 1,340 per sq.ft in 2017 and then increased to Rs 2,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 2,150 per sq.ft.

Looking at the changes between revisions, from 2002 to 2024, there has been an overall increase of 1261%. The changes between specific years include an increase of 17% from 2002 to 2003, a rise of 116% from 2003 to 2007, a significant increase of 400% from 2007 to 2012, a decrease of 33% from 2012 to 2017, and a substantial rise of 49% from 2017 to 2023. The jump from 2023 to 2024 is an increase of 8%.

Guideline values in Thiruvottiyur

In Thiruvottiyur village, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Thiruvottiyur Kuppam is below this median.

• Thiruvottiyur High Road(Madras-Ennore Road): Rs 5,500 per sq.ft (2024)
• Thiruvottiyur High Road: Rs 5,500 per sq.ft (2024)
• Thiryagarajan Street: Rs 3,700 per sq.ft (2024)
• Thiyagarayapuram: Rs 2,800 per sq.ft (2024)
• Thiyagi Sathiyamorthi Nagar: Rs 2,800 per sq.ft (2024)
• Thulukkana Naicken Street: Rs 3,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvottiyur Kuppam

For a 1,000 sq.ft plot at the current guideline value of Rs 2,150 per sq.ft, the total guideline value would be Rs 21,50,000. The stamp duty at 7% would be Rs 1,50,500, and the registration fee at 2% would be Rs 43,000, bringing the total cost to Rs 1,93,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruvottiyur Kuppam?

The Sub Registrar Office covering Thiruvottiyur Kuppam is 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 Thiruvottiyur

The guideline value is a critical factor during the registration process when buying or selling property in Thiruvottiyur Kuppam. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated.

When a property transaction occurs, the guideline value helps ensure that the property is not undervalued, thereby safeguarding government revenue from stamp duty. Buyers and sellers must be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Thiruvottiyur Kuppam?

The current guideline value of Thiruvottiyur Kuppam is Rs 2,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 158 per sq.ft in 2002 to Rs 2,150 per sq.ft in 2024, marking an overall increase of 1261% over the years.

What are the guideline values of other streets in Thiruvottiyur?

Other streets in Thiruvottiyur have varying guideline values, with rates ranging from Rs 1,300 to Rs 8,600 per sq.ft, and the median value being Rs 3,300 per sq.ft.

What are the stamp duty and registration fees based on the guideline value?

The stamp duty is charged at 7% of the guideline value, while the registration fee is charged at 2%. For a property valued at Rs 21,50,000, the total fees would amount to Rs 1,93,500.

Where can I find the Sub Registrar Office for Thiruvottiyur Kuppam?

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