Guideline Value for Kubaeraganapathi Street

Kubaeraganapathi Street guideline value

The current guideline value of Kubaeraganapathi Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village, under the Konnur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kubaeraganapathi Street has changed

The guideline value for Kubaeraganapathi Street has undergone several revisions over the years. In 2002, the guideline value was Rs 322 per sq.ft, which increased to Rs 354 per sq.ft in 2003. Following this, there was a significant rise to Rs 800 per sq.ft in 2007, and then it saw a substantial increase to Rs 3,500 per sq.ft in 2012. However, the value dropped to Rs 2,345 per sq.ft in 2017. The 2023 revision brought it back up to Rs 3,500 per sq.ft, and the most recent revision in 2024 set it at Rs 3,800 per sq.ft.

Notable changes between revisions include a 9% increase from 2023 to 2024, a 49% increase from 2017 to 2023, and a 338% rise from 2007 to 2012. The overall increase from 2002 to 2024 is 1,080%. There are no figures available for the revisions in years other than those listed.

Guideline values in Mugappair

Mugappair village has a total of 224 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft, with a median value of Rs 7,100 per sq.ft. The guideline value of Kubaeraganapathi Street is below this median.

• Kubera Colony: Rs 3,800 per sq.ft (2024)
• Kongu Nagar: Rs 7,100 per sq.ft (2024)
• Karunanithi Nagar: Rs 3,800 per sq.ft (2024)
• Madhiazhagan Nagar: Rs 3,800 per sq.ft (2024)
• Madhiazhagan Nagar Veenus Street: Rs 3,800 per sq.ft (2024)
• Karnan Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kubaeraganapathi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, leading to a total of Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kubaeraganapathi Street?

The Sub Registrar Office covering Kubaeraganapathi Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Mugappair. It serves as a benchmark for determining the minimum value of a property when it is registered. Buyers and sellers must be aware of the guideline value to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Kubaeraganapathi Street?

The current guideline value of Kubaeraganapathi Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 322 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, showing an overall increase of 1,080% over the years.

What is the land classification of Kubaeraganapathi Street?

Kubaeraganapathi Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for this street?

The Konnur Sub Registrar Office covers Kubaeraganapathi Street, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total stamp duty of Rs 2,66,000.