Guideline Value for Kaduvetti Vinayagar Koil Street/New Kubera Nagar

Kaduvetti Vinayagar Koil Street/New Kubera Nagar guideline value

The current guideline value of Kaduvetti Vinayagar Koil Street/New Kubera Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Kaduvetti Vinayagar Koil Street/New Kubera Nagar has changed

The guideline value for Kaduvetti Vinayagar Koil Street/New Kubera Nagar has seen several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 1,675 per sq.ft. This increased to Rs 2,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 set the value at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a guideline value for 2024, ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, which is equal to the current figure for Kaduvetti Vinayagar Koil Street/New Kubera Nagar.

• Kaduvetti Vinayagar Koil Street/Kubera Nagar: Rs 3,850 per sq.ft (2024)
• Kaduvetti Vinayager Koil Street: Rs 2,750 per sq.ft (2024)
• Kabaleeswar Nagar: Rs 1,650 per sq.ft (2024)
• Kakkan-ji-Street: Rs 2,200 per sq.ft (2024)
• Kabaleeswarar Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Kakkan Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kaduvetti Vinayagar Koil Street/New Kubera Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kaduvetti Vinayagar Koil Street/New Kubera Nagar?

The Kaduvetti Vinayagar Koil Street/New Kubera Nagar falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role during the registration of property transactions in Madipakkam-1. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property.

When selling property, the guideline value helps establish a baseline for the sale price. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements and to accurately calculate the associated costs.

Frequently asked questions

What is the current guideline value of Kaduvetti Vinayagar Koil Street/New Kubera Nagar?

The current guideline value of Kaduvetti Vinayagar Koil Street/New Kubera Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, showing an overall increase of 64% over these years.

What is the land classification for Kaduvetti Vinayagar Koil Street/New Kubera Nagar?

Kaduvetti Vinayagar Koil Street/New Kubera Nagar is classified under Residential Class I Type - III.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500.