Guideline Value

Corporate

Guideline Value for Kuberan Nagar 1st Street

₹3850/sq.ft.

The guideline value for Kuberan Nagar 1st Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Kuberan Nagar 1st Street

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Kuberan Nagar 1st Street guideline value

The current guideline value of Kuberan Nagar 1st 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 1st Street has changed

According to the guideline value register, there are no figures available for Kuberan Nagar 1st Street for the years 2002, 2003, 2007, 2012, and 2017. The guideline value for this street was Rs 3,500 per sq.ft during the 2023 revision, which increased to Rs 3,850 per sq.ft in the 2024 revision, marking a change of +10%.

The 2024 revision is the most recent, and it reflects the current market conditions for this area. The previous revision in 2023 set the guideline value at Rs 3,500 per sq.ft, indicating a significant upward adjustment in the latest revision.

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 this village is Rs 2,750 per sq.ft, placing Kuberan Nagar 1st Street's 2024 figure above this median.

Stamp duty and registration fee for property in Kuberan Nagar 1st 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, and the registration fee at 2% would be Rs 77,000, summing up to a total of Rs 3,46,500. 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 1st Street?

The Kuberan Nagar 1st Street falls under the jurisdiction of the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Madipakkam-1, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

Additionally, the guideline value serves as a reference for both buyers and sellers, providing a clear understanding of the property's worth in the context of the local real estate market. This helps facilitate smoother transactions and ensures compliance with legal requirements during property registration.

Frequently asked questions

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

The current guideline value of Kuberan Nagar 1st 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 1st Street was Rs 3,500 per sq.ft in 2023 and increased to Rs 3,850 per sq.ft in 2024, reflecting a +10% change. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Kuberan Nagar 1st Street?

Kuberan Nagar 1st Street falls under the Residential Class I Type - I land classification. This classification indicates the type of development and usage permitted in the area.

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. This office handles the registration of properties in the Kuberan Nagar area.

How is stamp duty calculated for properties in Kuberan Nagar 1st Street?

Stamp duty for properties in Kuberan Nagar 1st Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,69,500.