Guideline Value for Kuberan Nagar Extension 13th Street

Kuberan Nagar Extension 13th Street guideline value

The current guideline value of Kuberan Nagar Extension 13th 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, and is classified as Residential Class I Type - I.

How the guideline value of Kuberan Nagar Extension 13th Street has changed

The guideline value for Kuberan Nagar Extension 13th Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, an increase from Rs 3,500 per sq.ft in the 2023 revision, marking a change of +10%. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002.

Prior to the 2023 revision, the last recorded figure was Rs 3,500 per sq.ft in 2023. Unfortunately, the register does not provide any figures for the earlier years, including 2017, 2012, 2007, 2003, and 2002, making it difficult to trace the historical changes in guideline value for this street.

Guideline values in Madipakkam-1

In the Madipakkam-1 village, there are a total of 1823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing Kuberan Nagar Extension 13th Street's 2024 figure above this median.

• Kuberan Nagar Extension 12th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extension 14th Street: 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 1st Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extension 11th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extension 2nd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kuberan Nagar Extension 13th 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 to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Kuberan Nagar Extension 13th Street?

The Kuberan Nagar Extension 13th 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 details.

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

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

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Kuberan Nagar Extension 13th Street?

The current guideline value of Kuberan Nagar Extension 13th 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 changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, reflecting an increase of +10%. There are no recorded figures for the years 2017, 2012, 2007, 2003, and 2002.

What is the classification of Kuberan Nagar Extension 13th Street?

Kuberan Nagar Extension 13th Street is classified as Residential Class I Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for properties 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. The duty is charged on the higher of the guideline value or the sale price.

Which office handles the registration for Kuberan Nagar Extension 13th Street?

The Velacheri Sub Registrar Office handles the registration for Kuberan Nagar Extension 13th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.