Guideline Value for Kuberan Nagar Extension/Balaji Nagar Extension

Kuberan Nagar Extension/Balaji Nagar Extension guideline value

The current guideline value of Kuberan Nagar Extension/Balaji Nagar Extension is Rs 3,850 per sq.ft, effective from 1 July 2024. This area 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/Balaji Nagar Extension has changed

The guideline value for Kuberan Nagar Extension/Balaji Nagar Extension has seen several revisions over the years. The oldest recorded revision is from 2017, where the guideline value was Rs 2,345 per sq.ft. This increased to Rs 3,500 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, and Kuberan Nagar Extension/Balaji Nagar Extension's 2024 figure is above this median.

• Kuberan Nagar Extension 8th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extension Kubera Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extension 7th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extn: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extension 6th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extn 1st Main Road: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kuberan Nagar Extension/Balaji Nagar Extension

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, while the registration fee at 2% would be Rs 77,000, bringing the total fees 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/Balaji Nagar Extension?

The Kuberan Nagar Extension/Balaji Nagar Extension area is covered by 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 factor when buying or selling property in Madipakkam-1, as it determines the amount of stamp duty and registration fees payable. Buyers and sellers must consider the guideline value as it is used by the registration office to assess the transaction value for taxation purposes.

When registering a property, the guideline value serves as a benchmark to ensure that the sale price is in line with the government-set rates. This helps maintain transparency in property transactions and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value for Kuberan Nagar Extension/Balaji Nagar Extension?

The current guideline value for Kuberan Nagar Extension/Balaji Nagar Extension 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 increased from Rs 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What are the stamp duty and registration fees for a property 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.

Which Sub Registrar Office covers this area?

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

What is the land classification for Kuberan Nagar Extension/Balaji Nagar Extension?

The land classification for Kuberan Nagar Extension/Balaji Nagar Extension is Residential Class I Type - I.