Guideline Value for Kuberan Nagar 9th Street

Kuberan Nagar 9th Street guideline value

The current guideline value of Kuberan Nagar 9th 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. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kuberan Nagar 9th Street has changed

In the 2023 revision, the guideline value was Rs 3,500 per sq.ft. The 2024 revision reflects an increase of 10%, bringing the current guideline value to Rs 3,850 per sq.ft. The register has no figure for Kuberan Nagar 9th Street for the years 2002, 2003, 2007, 2012, and 2017.

Thus, the only revisions with figures for this street are from 2023 and 2024, showing a clear upward trend in the guideline value over this period.

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 median guideline value in this area is Rs 2,750 per sq.ft, placing Kuberan Nagar 9th Street's 2024 value above this median.

• Kuberan Nagar 8th Street/Narayanapuram: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar 8th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar East 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar 7th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar East 1st Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar 6th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kuberan Nagar 9th 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, together totaling 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.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kuberan Nagar 9th Street?

The Kuberan Nagar 9th Street falls under 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 critical factor during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that the government receives due revenue from property sales.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This ensures transparency and fairness in the transaction process.

Frequently asked questions

What is the current guideline value of Kuberan Nagar 9th Street?

The current guideline value of Kuberan Nagar 9th 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 9th Street was Rs 3,500 per sq.ft in 2023 and increased to Rs 3,850 per sq.ft in 2024, reflecting a 10% rise.

What are the other streets in Madipakkam-1 with similar guideline values?

Other streets in Madipakkam-1 under the Velacheri SRO have a guideline value of Rs 3,850 per sq.ft in 2024, including Kuberan Nagar 8th Street and Kuberan Nagar East 1st Cross Street.

What is the registration fee for property in Kuberan Nagar 9th Street?

The registration fee for property in Kuberan Nagar 9th Street is calculated at 2% of the guideline value. For a property valued at Rs 38,50,000, the registration fee would be Rs 77,000.

Where can I find the Sub Registrar Office for Kuberan Nagar 9th Street?

The Velacheri Sub Registrar Office covers Kuberan Nagar 9th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.