Guideline Value for KUSHEE NAGAR

Kushee Nagar guideline value

The current guideline value of Kushee Nagar, located in Mathuranthagam village under the Madurandakam SRO, is Rs 1,480 per sq.ft, effective from 1 July 2024. This area is classified as Mixed Type - II land.

How the guideline value of Kushee Nagar has changed

The guideline value of Kushee Nagar has undergone several revisions over the years. The earliest recorded revision was in 2017, where the guideline value was set at Rs 900 per sq.ft. This figure increased significantly to Rs 1,344 per sq.ft in the 2023 revision, marking a substantial rise of 49%. The most recent revision in 2024 saw the guideline value rise again to Rs 1,480 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%, highlighting the changes in property valuation in this area.

Guideline values in Mathuranthagam

In Mathuranthagam village, there are 109 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,480 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Kushee Nagar's 2024 figure above that median.

• Kutcheri Street: Rs 1,100 per sq.ft (2024)
• Kudumi Street: Rs 1,110 per sq.ft (2024)
• Krishnapriya Nagar: Rs 1,110 per sq.ft (2024)
• Kottanakara Street: Rs 1,110 per sq.ft (2024)
• Maharishi Nagar: Rs 1,110 per sq.ft (2024)
• Mahaveer Nagar: Rs 1,110 per sq.ft (2024)

Stamp duty and registration fee for property in Kushee Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,480 per sq.ft, the total guideline value would be Rs 14,80,000. The stamp duty at 7% would amount to Rs 1,03,600, while the registration fee at 2% would be Rs 29,600. Together, these fees total Rs 1,33,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kushee Nagar?

The Sub Registrar Office that covers Kushee Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Mathuranthagam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value helps in establishing the minimum value at which the property can be registered. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kushee Nagar?

The current guideline value of Kushee Nagar is Rs 1,480 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2017 to Rs 1,344 per sq.ft in 2023, and then to Rs 1,480 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the land classification of Kushee Nagar?

Kushee Nagar is classified as Mixed Type - II land, which affects its guideline value and potential uses.

Where is the Madurandakam Sub Registrar Office located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How are stamp duty and registration fees calculated in Kushee Nagar?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,33,200.