Guideline Value for Kuberan Nagar Extension 5th Cross Street

Kuberan Nagar Extension 5th Cross Street guideline value

The current guideline value of Kuberan Nagar Extension 5th Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village and falls under the Velacheri SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kuberan Nagar Extension 5th Cross Street has changed

According to the guideline value register, there are no figures available for Kuberan Nagar Extension 5th Cross Street for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 3,500 per sq.ft. The most recent revision in 2024 increased this value to Rs 3,850 per sq.ft, marking a change of +10% from the previous year.

This increase places Kuberan Nagar Extension 5th Cross Street's current guideline value above the median of Rs 2,750 per sq.ft for the 1,823 streets in Madipakkam-1 under the Velacheri SRO, which range from Rs 1,650 to Rs 5,500 per sq.ft.

Guideline values in Madipakkam-1

The guideline values in Madipakkam-1 show a diverse range, with the current figures for this street being higher than the median. Below are the guideline values for other streets in Madipakkam-1:

• Kuberan Nagar Extension 1st Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extension 2nd Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extension 3rd Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extension 4th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extension 5th Street (Sri Balaji Nagar): Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extension 6th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extension 7th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kuberan Nagar Extension 5th 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, while the registration fee at 2% would be Rs 77,000. Together, the total cost for these fees would be 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kuberan Nagar Extension 5th Cross Street?

The Kuberan Nagar Extension 5th Cross Street falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial component 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 at the time of property registration.

When a property is sold, 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 government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Kuberan Nagar Extension 5th Cross Street?

The current guideline value of Kuberan Nagar Extension 5th 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 for Kuberan Nagar Extension 5th Cross Street has seen changes from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a +10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft. Kuberan Nagar Extension 5th Cross Street's current value is above this median.

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. These fees are based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Kuberan Nagar Extension 5th Cross Street?

The Velacheri Sub Registrar Office covers Kuberan Nagar Extension 5th Cross Street and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.