Guideline Value for Kuberan Nagar Ext 11th Street

Kuberan Nagar Ext 11th Street guideline value

The current guideline value of Kuberan Nagar Ext 11th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - I.

How the guideline value of Kuberan Nagar Ext 11th Street has changed

There are no figures available for Kuberan Nagar Ext 11th Street in the register for the years 2002, 2003, 2007, 2012, and 2017. The guideline value for this street was Rs 3,500 per sq.ft in the 2023 revision, which increased by 10% to Rs 3,850 per sq.ft in the 2024 revision.

This change reflects a consistent increase in the guideline value for Kuberan Nagar Ext 11th Street, with the latest figure being above the median guideline value of Rs 2,750 per sq.ft for other streets in Madipakkam-1 under the Velacheri SRO.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The 2024 guideline value for Kuberan Nagar Ext 11th Street is above the median of Rs 2,750 per sq.ft.

• Kuberan Nagar East 5th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Ext 4th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar East 4th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Ext 6th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar East 4th Cross Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Ext 9th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kuberan Nagar Ext 11th 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 be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total cost Rs 3,46,500. Duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kuberan Nagar Ext 11th Street?

The Kuberan Nagar Ext 11th Street falls under 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madipakkam-1. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately in the official registers.

When a property is sold, the guideline value serves as a benchmark for assessing the value of the property, helping in the calculation of applicable duties and fees. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Kuberan Nagar Ext 11th Street?

The current guideline value of Kuberan Nagar Ext 11th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed recently?

The guideline value increased from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% increase.

What is the land classification for Kuberan Nagar Ext 11th Street?

Kuberan Nagar Ext 11th Street is classified as Residential Class I Type - I.

Where can I find the registration office for Kuberan Nagar Ext 11th Street?

The registration office for Kuberan Nagar Ext 11th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,69,500.