Guideline Value for KUBERAN NAGAR -II

Kuberan Nagar -II guideline value

The current guideline value of Kuberan Nagar -II is Rs 1,000 per sq.ft as per the 2023 revision. This area is located in Melakottyur village, under the Gooduvancheri SRO, and is classified as Residential Special Type - III.

How the guideline value of Kuberan Nagar -II has changed

In the 2012 revision, the guideline value was set at Rs 1,000 per sq.ft. This value remained unchanged until the 2017 revision, where it decreased to Rs 670 per sq.ft, marking a drop of 33%. However, the 2023 revision saw a significant increase to Rs 1,000 per sq.ft again, representing a rise of 49% from the 2017 figure.

Overall, from the 2012 revision to the 2023 revision, the guideline value has not changed, remaining at Rs 1,000 per sq.ft. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2024 for this street.

Guideline values in Melakottyur

Currently, there are no specific guideline values provided for other streets in Melakottyur under the Gooduvancheri SRO. Kuberan Nagar -II is the only street mentioned with a guideline value.

Stamp duty and registration fee for property in Kuberan Nagar -II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty, charged at 7%, would amount to Rs 70,000, while the registration fee, charged at 2%, would be Rs 20,000. Together, these fees total Rs 90,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kuberan Nagar -II?

The Kuberan Nagar -II area falls under the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Melakottyur. 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 stamp duty and registration fees.

When buying or selling property, the guideline value is compared against the sale price. The higher of the two is used to calculate the applicable duties and fees, which must be settled at the time of registration.

Frequently asked questions

What is the current guideline value of Kuberan Nagar -II?

The current guideline value of Kuberan Nagar -II is Rs 1,000 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, and then back to Rs 1,000 per sq.ft in 2023. Overall, from 2012 to 2023, the value remains unchanged.

What are the stamp duty and registration fees in Kuberan Nagar -II?

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000. These fees are calculated based on the higher of the guideline value or the sale price.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the guideline value determined for property transactions?

The guideline value is determined by the government and serves as a minimum value for property registration. It is used to calculate stamp duty and registration fees, ensuring the government receives appropriate revenue from property transactions.