Guideline Value for Valluvar Kuppam

Valluvar Kuppam guideline value

The current guideline value of Valluvar Kuppam is Rs 7,100 per sq.ft, effective from 1 July 2024. This area is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Valluvar Kuppam has changed

The guideline value for Valluvar Kuppam has seen significant changes over the years. In 2002, the value was Rs 756 per sq.ft, which increased to Rs 2,000 per sq.ft in 2007. Following this, the value rose dramatically to Rs 6,500 per sq.ft in 2012, before dropping to Rs 4,355 per sq.ft in 2017. The value then increased to Rs 6,500 per sq.ft in 2023 and finally reached Rs 7,100 per sq.ft in 2024. The register has no figure for this street in 2003.

From 2017 to 2023, the guideline value increased by 49%. The value saw a substantial increase of 225% from 2007 to 2012. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2002 to 2024, the guideline value has increased by 839%.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median value is Rs 8,800 per sq.ft, placing Valluvar Kuppam's 2024 figure below that median.

• Valluvarkottam High Road (or) Village Road: Rs 13,200 per sq.ft (2024)
• Valluvarkottam 2nd Lane: Rs 8,800 per sq.ft (2024)
• Valluvarkottam 1st Lane: Rs 8,800 per sq.ft (2024)
• Vaigundapuram 2nd Street: Rs 5,500 per sq.ft (2024)
• Vaigundapuram 1st Street: Rs 5,500 per sq.ft (2024)
• Vaidyanathan Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Valluvar Kuppam

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, resulting in a total of Rs 6,39,000. 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 Valluvar Kuppam?

The Sub Registrar Office covering Valluvar Kuppam is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar 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 Nungambakkam

The guideline value is an essential factor when buying or selling property in Nungambakkam. It is used to determine the stamp duty and registration fees applicable during the transaction. Buyers must ensure that the sale price is either equal to or higher than the guideline value to comply with legal requirements.

When registering a property, the guideline value helps in assessing the official value of the property for taxation purposes. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline value.

Frequently asked questions

What is the current guideline value of Valluvar Kuppam?

The current guideline value of Valluvar Kuppam is Rs 7,100 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 756 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, showing an overall increase of 839% over this period.

What is the median guideline value in Nungambakkam?

The median guideline value in Nungambakkam is Rs 8,800 per sq.ft, while Valluvar Kuppam's current value is below this median.

What are the stamp duty and registration fees for a property in Valluvar Kuppam?

For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Which office handles property registrations for Valluvar Kuppam?

The Chennai Central Joint II Sub Registrar Office is responsible for property registrations in Valluvar Kuppam, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.