Guideline Value for Kuberan Nagar Extension 11th Street

Kuberan Nagar Extension 11th Street guideline value

The current guideline value of Kuberan Nagar Extension 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, and it falls under the Residential Class I Type - I land classification.

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

The guideline value for Kuberan Nagar Extension 11th Street has seen significant changes over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. The value was Rs 3,500 per sq.ft in 2023, which increased by 10% to Rs 3,850 per sq.ft in the 2024 revision.

Prior to the 2023 revision, there were no figures available for the street in the register. The 2024 revision marks a notable increase, reflecting the current value of Rs 3,850 per sq.ft.

Guideline values in Madipakkam-1

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

• Kuberan Nagar Extension 10th Street/Sri Balaji Nagar: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extension 11th Street/Balaji Nagar/Gogulam Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extension 10th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extension 12th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Ext 9th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extension 13th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kuberan Nagar Extension 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 amounts to 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, bringing the total costs together to 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.

You can use our stamp duty and registration fee calculator for more detailed calculations.

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

The Kuberan Nagar Extension 11th Street falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is aligned with the established values in the area.

Frequently asked questions

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

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

How much 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 Extension 11th Street?

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

Where can I find the Velacheri Sub Registrar Office?

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

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 38,50,000 would incur a stamp duty of Rs 2,69,500 at 7%.