Guideline Value for Kuberan Nagar 1st Main Road

Kuberan Nagar 1st Main Road guideline value

The current guideline value of Kuberan Nagar 1st Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This road 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 1st Main Road has changed

The guideline value for Kuberan Nagar 1st Main Road has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 3,500 per sq.ft. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017.

In summary, the guideline value has risen from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024. The previous revisions do not have figures recorded for this street, indicating a lack of updates in the guideline value register for those years.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for the village is Rs 2,750 per sq.ft, making the 2024 figure for Kuberan Nagar 1st Main Road above the median.

• Kuberan Nagar 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar 15th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar 14th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar 2nd Main Road: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kuberan Nagar 1st Main Road

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to 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 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 information.

Which Sub Registrar Office covers Kuberan Nagar 1st Main Road?

The Kuberan Nagar 1st Main Road 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 the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which the property can be registered, ensuring that the transaction is documented accurately in accordance with government regulations.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kuberan Nagar 1st Main Road?

The current guideline value of Kuberan Nagar 1st Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased by 10% from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024.

What is the land classification for Kuberan Nagar 1st Main Road?

Kuberan Nagar 1st Main Road is classified as Residential Class I Type - I.

Where can I find the Velacheri Sub Registrar Office?

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

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 38,50,000, the stamp duty would be Rs 2,69,500 at a rate of 7%.