Guideline Value for KUBERAN NAGAR

Kuberan Nagar guideline value

The current guideline value of Kuberan Nagar, located in Kolumanivakkam village under the Kunrathur SRO, is Rs 1,210 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Kuberan Nagar has changed

The guideline value for Kuberan Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,100 per sq.ft, which was then reduced to Rs 737 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,100 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,210 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figure for Kuberan Nagar in the years 2002, 2003, and 2007.

Guideline values in Kolumanivakkam

In Kolumanivakkam, there are 47 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 880 to Rs 3,290 per sq.ft, with a median value of Rs 1,350 per sq.ft. The guideline value for Kuberan Nagar is below this median.

• Krishnambal Nagar: Rs 990 per sq.ft (2024)
• Kumari Nagar: Rs 1,350 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,350 per sq.ft (2024)
• Mahalakshmi Nagar / Annexe: Rs 1,210 per sq.ft (2024)
• Mahalakshmi Nagar Annexe II: Rs 1,350 per sq.ft (2024)
• Mahalakshmi Nagar Annexe III: Rs 2,630 per sq.ft (2024)

Stamp duty and registration fee for property in Kuberan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, bringing the total to Rs 1,08,900. 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?

Kuberan Nagar falls under the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in property transactions in Kolumanivakkam, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider the guideline value to ensure compliance with the regulations set by the Registration Department.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kuberan Nagar?

The current guideline value of Kuberan Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then back to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,210 per sq.ft in 2024.

What is the land classification of Kuberan Nagar?

Kuberan Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Kuberan Nagar?

For a property valued at Rs 12,10,000, the stamp duty would be Rs 84,700 and the registration fee would be Rs 24,200, totaling Rs 1,08,900.

Which Sub Registrar Office is responsible for Kuberan Nagar?

The Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, is responsible for Kuberan Nagar.