Guideline Value for Kubera Nagar North Extn

Kubera Nagar North Extn guideline value

The current guideline value of Kubera Nagar North 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 North Extn has changed

The guideline value for Kubera Nagar North Extn has seen significant changes over the years. In the 2007 revision, the guideline value was Rs 1,500 per sq.ft, which increased to Rs 2,680 per sq.ft in 2017, marking a 79% rise. The 2023 revision set the value at Rs 4,000 per sq.ft, reflecting a 49% increase from the previous revision. The current 2024 revision has further increased the guideline value to Rs 4,400 per sq.ft, a 10% increase from 2023.

There are no figures available for the revisions in 2002, 2003, and 2012 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 193%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value 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 equal to the current value for Kubera Nagar North Extn.

• Kubera Nagar North: Rs 4,400 per sq.ft (2024)
• Kubera Nagar Extn: Rs 4,400 per sq.ft (2024)
• Kubera Nagar: 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 North Extn

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the 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 to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kubera Nagar North Extn?

The Sub Registrar Office that covers Kubera Nagar North Extn is 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 Velachery

The guideline value plays a crucial role in property transactions in Velachery. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and to calculate the financial obligations associated with the transaction.

When registering a property, the guideline value serves as a benchmark for the official valuation of the property. It helps in establishing a fair price for the transaction and is essential for legal documentation.

Frequently asked questions

What is the current guideline value for Kubera Nagar North Extn?

The current guideline value for Kubera Nagar North 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 has changed significantly from Rs 1,500 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 193% over the years.

What is the stamp duty rate in Kubera Nagar North Extn?

The stamp duty rate in Kubera Nagar North Extn is 7%, which is calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Kubera Nagar North Extn located?

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

How can I calculate the registration fees for property in Kubera Nagar North Extn?

To calculate the registration fees for property in Kubera Nagar North Extn, you can use the guideline value along with the applicable rates for stamp duty and registration fees. A detailed calculator is available here.