Guideline Value for Kuberan Nagar 8th Street

Kuberan Nagar 8th Street guideline value

The current guideline value of Kuberan Nagar 8th 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 8th Street has changed

Over the years, the guideline value for Kuberan Nagar 8th Street has seen several revisions. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 3,500 per sq.ft, which increased to Rs 3,850 per sq.ft in the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, there were no recorded figures for this street in the earlier years mentioned. The most recent increase reflects the current valuation trends in the area, and the 2024 figure is positioned above the median guideline value of Rs 2,750 per sq.ft for streets in Madipakkam-1.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The guideline value for Kuberan Nagar 8th Street is above the median value for the area. Here are the guideline values for other streets in Madipakkam-1:

• Kuberan Nagar 7th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar 8th Street/Narayanapuram: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar 6th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar 9th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar 5th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar 4th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kuberan Nagar 8th 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 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.

For more accurate calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kuberan Nagar 8th Street?

The Kuberan Nagar 8th Street falls under the jurisdiction of 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 critical factor in property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration norms.

When registering a property, the guideline value is used to calculate applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations associated with the transaction, based on the current guideline value.

Frequently asked questions

What is the current guideline value of Kuberan Nagar 8th Street?

The current guideline value of Kuberan Nagar 8th 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 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% increase. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What are the other streets in Madipakkam-1 with the same guideline value?

Other streets in Madipakkam-1 that share the same guideline value of Rs 3,850 per sq.ft include Kuberan Nagar 7th Street, Kuberan Nagar 6th Street, Kuberan Nagar 9th Street, Kuberan Nagar 5th Street, and Kuberan Nagar 4th Street.

What are the stamp duty and registration fees for a property in Kuberan Nagar 8th 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. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Kuberan Nagar 8th Street?

The Velacheri Sub Registrar Office handles registrations for Kuberan Nagar 8th Street. It is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.