Guideline Value for KUBERAN NAGAR

Kuberan Nagar guideline value

The current guideline value of Kuberan Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Kanchivakkam village, under the Gooduvancheri SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kuberan Nagar has changed

The guideline value for Kuberan Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 335 per sq.ft. Following this, the value increased significantly to Rs 500 per sq.ft in both the 2023 and 2024 revisions, reflecting a 49% increase from 2017 to 2023.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Kuberan Nagar. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained constant at Rs 500 per sq.ft.

Guideline values in Kanchivakkam

Kanchivakkam village features 23 streets under the Gooduvancheri SRO, with the 2024 guideline values ranging from Rs 400 to Rs 600 per sq.ft. The median value for these streets is Rs 500 per sq.ft, placing Kuberan Nagar's 2024 figure at the median.

• Lotus Enclave: Rs 600 per sq.ft (2024)
• Kannan Nagar: Rs 600 per sq.ft (2024)
• Media Quarters: Rs 400 per sq.ft (2024)
• Metro Corporate Residency: Rs 600 per sq.ft (2024)
• Jayalakshmi Nagar Extention: Rs 600 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 600 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 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty, charged at 7%, would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kuberan Nagar?

Kuberan Nagar falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Kanchivakkam. It serves as the benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately with the local authorities.

When a property is sold, the guideline value is used to determine the official value of the property for registration purposes. This value helps maintain transparency in property transactions and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kuberan Nagar?

The current guideline value of Kuberan Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Kuberan Nagar has been Rs 500 per sq.ft in the 2012, 2023, and 2024 revisions, with a decrease to Rs 335 per sq.ft in 2017. The overall change from 2012 to 2024 is 0%.

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

The stamp duty is charged at 7%, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 45,000 based on the current guideline value.

Which office handles registrations for Kuberan Nagar?

The Gooduvancheri Sub Registrar Office is responsible for handling registrations in Kuberan Nagar. It is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202.

What is the significance of the guideline value in property transactions?

The guideline value is essential for determining the official value of a property during transactions. It is used to calculate the stamp duty and registration fees, ensuring that property sales are recorded accurately and transparently.