Guideline Value for Kubera Lakshmi Nagar

Kubera Lakshmi Nagar guideline value

The current guideline value of Kubera Lakshmi Nagar is Rs 3,630 per sq.ft, effective from 1 July 2024. This area is located in Mudichur village and falls under the Padappai SRO. The land classification for this street is Commercial Class I Type - I.

How the guideline value of Kubera Lakshmi Nagar has changed

Over the years, the guideline value for Kubera Lakshmi Nagar has seen several revisions. The earliest revision available is from 2012, which set the value at Rs 3,300 per sq.ft. This was followed by a decrease to Rs 2,211 per sq.ft in 2017, and then an increase to Rs 3,300 per sq.ft in 2023. The current revision in 2024 has further increased the value to Rs 3,630 per sq.ft, marking a 10% rise from the previous year.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023 and decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Kubera Lakshmi Nagar's 2024 figure above this median.

• Kubera Mangala Nagar: Rs 3,630 per sq.ft (2024)
• Krishna Raj Avenue: Rs 3,630 per sq.ft (2024)
• Kurinji Nagar: Rs 3,630 per sq.ft (2024)
• Kurinji Nagar Extension: Rs 3,630 per sq.ft (2024)
• Lakshmi Nagar: Rs 3,630 per sq.ft (2024)
• Lakshmi Nagar Extn: Rs 3,630 per sq.ft (2024)

Stamp duty and registration fee for property in Kubera Lakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,630 per sq.ft, the total guideline value would be Rs 36,30,000. The stamp duty at 7% would amount to Rs 2,54,100, and the registration fee at 2% would be Rs 72,600. Together, the total cost for these fees would be Rs 3,26,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kubera Lakshmi Nagar?

The Sub Registrar Office that covers Kubera Lakshmi Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Mudichur, as it determines the amount of stamp duty and registration fees payable. When a property transaction occurs, the guideline value is assessed to ensure that the fees are calculated correctly based on the value of the property.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. The guideline value serves as a benchmark for property transactions and helps maintain transparency in real estate dealings.

Frequently asked questions

What is the current guideline value of Kubera Lakshmi Nagar?

The current guideline value of Kubera Lakshmi Nagar is Rs 3,630 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,300 per sq.ft in 2012 to Rs 2,211 per sq.ft in 2017, then back to Rs 3,300 per sq.ft in 2023, and finally to Rs 3,630 per sq.ft in 2024.

What is the land classification for Kubera Lakshmi Nagar?

Kubera Lakshmi Nagar is classified as Commercial Class I Type - I, which indicates its suitability for commercial activities.

What is the registration office for Kubera Lakshmi Nagar?

The registration office for Kubera Lakshmi Nagar is the Padappai Sub Registrar Office located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated in Kubera Lakshmi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,54,100.