Guideline Value for Kubera Nagar Extn

Kubera Nagar Extn guideline value

The current guideline value of Kubera Nagar Extn is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Velachery village and falls under the Velacheri SRO. The land classification for this street is Residential Class II Type - II.

How the guideline value of Kubera Nagar Extn has changed

Over the years, the guideline value for Kubera Nagar Extn has seen several revisions. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, which reflects a 10% increase from the 2023 revision of Rs 4,000 per sq.ft. The 2012 revision also recorded Rs 4,000 per sq.ft, with no figures available for the years 2017, 2007, 2003, and 2002.

From 2012 to 2024, the overall change in guideline value is 10%. The value remained unchanged from 2012 to 2023, indicating stability in this period before the recent increase.

Guideline values in Velachery

In Velachery, there are a total of 2,691 streets under the Velacheri SRO, with the 2024 guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is the same as the current value for Kubera Nagar Extn.

• Kubera Nagar: Rs 4,400 per sq.ft (2024)
• Kubera Nagar North: Rs 4,400 per sq.ft (2024)
• Kubera Nagar North Extn: Rs 4,400 per sq.ft (2024)
• K.R.Ramasamy Street: Rs 4,400 per sq.ft (2024)
• K.R. Ramasamy Nagar: Rs 4,400 per sq.ft (2024)
• Krishnaraj Nagar Extn 3rd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kubera Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. 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 Nagar Extn?

The Sub Registrar Office that covers Kubera Nagar Extn is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value can influence the sale price, as the duty is charged on the higher of the guideline value or the sale price. This ensures that both buyers and sellers are aware of the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Kubera Nagar Extn?

The current guideline value of Kubera Nagar Extn is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Kubera Nagar Extn has changed from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024, marking a 10% increase. The value remained unchanged at Rs 4,000 per sq.ft from 2012 to 2023.

What is the land classification for Kubera Nagar Extn?

Kubera Nagar Extn is classified as Residential Class II Type - II, indicating its suitability for residential development.

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 do I calculate stamp duty and registration fees?

Stamp duty and registration fees can be calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000.