Guideline Value for Kuberan Nagar 2nd Cross Street

Kuberan Nagar 2nd Cross Street guideline value

The current guideline value of Kuberan Nagar 2nd Cross 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 is classified as Residential Class I Type - I.

How the guideline value of Kuberan Nagar 2nd Cross Street has changed

The guideline value for Kuberan Nagar 2nd Cross Street has seen 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 previous year’s figure of Rs 3,500 per sq.ft in 2023. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 in the register for this street.

In summary, the guideline values for Kuberan Nagar 2nd Cross Street have evolved from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024. The absence of figures in earlier years means that we only have these two recent values to compare.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. Kuberan Nagar 2nd Cross Street’s 2024 figure of Rs 3,850 per sq.ft is above this median.

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

Stamp duty and registration fee for property in Kuberan Nagar 2nd 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 amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for these charges to Rs 3,46,500. Please 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 further assistance.

Which Sub Registrar Office covers Kuberan Nagar 2nd Cross Street?

The Kuberan Nagar 2nd Cross Street 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 information.

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

The guideline value plays a crucial role during property registration in Madipakkam-1. It is used to determine the stamp duty and registration fees that must be paid when a property transaction occurs.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. It helps avoid undervaluation and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kuberan Nagar 2nd Cross Street?

The current guideline value of Kuberan Nagar 2nd Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% increase.

What is the land classification for Kuberan Nagar 2nd Cross Street?

Kuberan Nagar 2nd Cross Street is classified as Residential Class I Type - I.

Where can I find the registration office for Kuberan Nagar 2nd Cross Street?

The registration office for Kuberan Nagar 2nd Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Kuberan Nagar 2nd Cross Street?

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