Guideline Value for Kubera Nagar North

Kubera Nagar North guideline value

The current guideline value of Kubera Nagar North is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Kubera Nagar North has changed

The guideline value for Kubera Nagar North has seen several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which then decreased to Rs 2,680 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 4,000 per sq.ft in 2023 and further to Rs 4,400 per sq.ft in 2024, marking a 10% increase from the previous year.

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

Guideline values in Velachery

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to 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 the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for accurate calculations based on your property details.

Which Sub Registrar Office covers Kubera Nagar North?

Kubera Nagar North falls under the jurisdiction of the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

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

The guideline value is a critical factor during the registration of property transactions in Velachery. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated fairly based on the property's value.

When buying or selling property, the guideline value is referenced to ascertain the minimum value on which the stamp duty is calculated. This ensures that all transactions are recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kubera Nagar North?

The current guideline value of Kubera Nagar North 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 from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification for Kubera Nagar North?

Kubera Nagar North is classified as Residential Class II Type - II.

What are the stamp duty and registration fees for a property in Kubera Nagar North?

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, totaling Rs 3,96,000.

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

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