Guideline Value for Kuberan Nagar 11th Street

Kuberan Nagar 11th Street guideline value

The current guideline value of Kuberan Nagar 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 11th Street has changed

The guideline value for Kuberan Nagar 11th Street has undergone several revisions over the years. The earliest recorded revision is from 2017, where the guideline value was Rs 2,345 per sq.ft. This value increased significantly to Rs 3,500 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 saw another increase of 10%, bringing the current value to Rs 3,850 per sq.ft.

There are no figures available in the register for the years 2002, 2003, 2007, and 2012 for Kuberan Nagar 11th Street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with 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, placing Kuberan Nagar 11th Street's 2024 figure above this median.

• Kuberan Nagar 10th Street/Sri Balaji Nagar: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar 12th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar 10th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar 13th Street (Balaji Nagar - Madura Street): Rs 3,850 per sq.ft (2024)
• Kuberan Nagar 14th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar 15th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kuberan Nagar 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 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, 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.

For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kuberan Nagar 11th Street?

The Sub Registrar Office that covers Kuberan Nagar 11th Street is 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 information.

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

The guideline value is a crucial factor when registering property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in accordance with government regulations.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are necessary for the legal transfer of ownership. This ensures transparency and compliance with local laws during property transactions.

Frequently asked questions

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

The current guideline value of Kuberan Nagar 11th 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 2,345 per sq.ft in 2017 to Rs 3,500 per sq.ft in 2023, and then to Rs 3,850 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the land classification for Kuberan Nagar 11th Street?

Kuberan Nagar 11th Street falls under the Residential Class I Type - I land classification, which is typically designated for residential purposes.

What are the stamp duty and registration fees for a property in Kuberan Nagar 11th Street?

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.

Where can I find the Sub Registrar Office for Kuberan Nagar 11th Street?

The Velacheri Sub Registrar Office covers Kuberan Nagar 11th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.