Guideline Value for Kuberan Nagar Extension 14th Street

Kuberan Nagar Extension 14th Street guideline value

The current guideline value of Kuberan Nagar Extension 14th 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 is classified as Residential Class I Type - I.

How the guideline value of Kuberan Nagar Extension 14th Street has changed

As per the revisions in the guideline value register, there have been several updates over the years. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, which is an increase from Rs 3,500 per sq.ft in 2023, marking a change of +10%. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Prior to the 2023 revision, the last recorded figure was Rs 3,500 per sq.ft in 2023. The register does not provide any figures for the years mentioned earlier. Thus, the current guideline value reflects the most recent changes in 2024.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. Kuberan Nagar Extension 14th Street's 2024 figure is above this median.

• Kuberan Nagar Extension 13th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extension 1st Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extension 12th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extension 2nd 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 3rd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kuberan Nagar Extension 14th 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, resulting in a total of 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 also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kuberan Nagar Extension 14th Street?

The Sub Registrar Office that covers Kuberan Nagar Extension 14th Street is 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 plays a crucial role in the registration process when buying or selling property in Madipakkam-1. It is used to determine the stamp duty and registration fees that are applicable to a property transaction.

When you register a property, the guideline value is considered to ensure that the transaction is recorded accurately. This helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Kuberan Nagar Extension 14th Street?

The current guideline value of Kuberan Nagar Extension 14th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the last recorded figure in 2023 was Rs 3,500 per sq.ft, the guideline value increased by +10% to Rs 3,850 per sq.ft in 2024. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What are the stamp duty and registration fees for a property in Kuberan Nagar Extension 14th Street?

For a 1,000 sq.ft property valued at Rs 3,850 per sq.ft, the total guideline value is 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.

Which Sub Registrar Office covers Kuberan Nagar Extension 14th Street?

The Velacheri Sub Registrar Office covers Kuberan Nagar Extension 14th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the guideline value used in property transactions?

The guideline value is used to determine the applicable stamp duty and registration fees during property transactions. It ensures that the property is registered accurately and maintains transparency in the dealings.