Guideline Value for Kubera Colony

Kubera Colony guideline value

The current guideline value of Kubera Colony, located in Mugappair village under the Konnur SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kubera Colony has changed

The guideline value for Kubera Colony has undergone several revisions over the years. In 2002, the value was Rs 204 per sq.ft, which increased to Rs 224 per sq.ft in 2003. Following this, the value saw significant increases, reaching Rs 800 per sq.ft in 2007, and then jumping to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017 before rising again to Rs 3,500 per sq.ft in 2023, and finally reaching Rs 3,800 per sq.ft in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 9%. Notably, the value saw a remarkable increase of 338% from 2007 to 2012 and a 257% increase from 2003 to 2007. Overall, from 2002 to 2024, the guideline value has increased by 1,763%.

Guideline values in Mugappair

In Mugappair, there are 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. Kubera Colony's 2024 guideline value of Rs 3,800 per sq.ft is below this median.

• Kubaeraganapathi Street: 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 Kubera Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, totaling Rs 3,42,000. 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kubera Colony?

The Sub Registrar Office that covers Kubera Colony 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mugappair. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately with the appropriate authorities.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher value between the guideline value and the actual sale price, which can impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Kubera Colony?

The current guideline value of Kubera Colony 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 seen significant changes, increasing from Rs 204 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, with various fluctuations in between.

What is the land classification for Kubera Colony?

Kubera Colony is classified as Residential Class II Type - I.

Where can I find the registration office for Kubera Colony?

The registration office for Kubera Colony is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated for properties in Kubera Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, on a property with a guideline value of Rs 38,00,000, the stamp duty would be calculated at 7% of that amount.