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Guideline Value

Corporate

Guideline Value for Kuberan Nagar 1st Cross Street

₹3850/sq.ft.

The guideline value for Kuberan Nagar 1st Cross Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Kuberan Nagar 1st Cross Street

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Kuberan Nagar 1st Cross Street guideline value

The current guideline value of Kuberan Nagar 1st Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in the Madipakkam-1 village, under the Velacheri SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kuberan Nagar 1st Cross Street has changed

The guideline value for Kuberan Nagar 1st Cross Street has seen several revisions over the years. The oldest recorded revision is from 2017, with a guideline value of Rs 2,345 per sq.ft. This figure increased to Rs 3,500 per sq.ft in the 2023 revision, marking a change of 49%. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for Kuberan Nagar 1st Cross Street in the register.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, making the 2024 figure for Kuberan Nagar 1st Cross Street above the median.

Stamp duty and registration fee for property in Kuberan Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total cost for these fees Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kuberan Nagar 1st Cross Street?

The Kuberan Nagar 1st Cross Street falls under the jurisdiction of the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For further assistance, you can find your SRO.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is an essential factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Kuberan Nagar 1st Cross Street?

The current guideline value of Kuberan Nagar 1st Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 64% over this period.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500 in fees.

Which office handles registrations for Kuberan Nagar 1st Cross Street?

The Velacheri Sub Registrar Office handles registrations for Kuberan Nagar 1st Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the registration reflects the true value of the property being sold or purchased.