Guideline Value for Kuberan Nagar Extension 6th Street

Kuberan Nagar Extension 6th Street guideline value

The current guideline value of Kuberan Nagar Extension 6th 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 Extension 6th Street has changed

The guideline value for Kuberan Nagar Extension 6th Street has undergone several revisions over the years. The 2017 revision set the value at Rs 2,345 per sq.ft, which increased to Rs 3,500 per sq.ft in the 2023 revision. The most recent 2024 revision has raised the value further to Rs 3,850 per sq.ft, marking a 10% increase from the 2023 figure. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. The significant changes between the revisions highlight the evolving nature of property values in the area, with a notable 49% increase from 2017 to 2023.

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 in this area is Rs 2,750 per sq.ft, placing Kuberan Nagar Extension 6th Street's 2024 figure above that median.

• Kuberan Nagar Extension 5th Street(Sri Balaji Nagar): Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extension 7th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extension 5th Cross Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extension 8th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extension 3rd Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extension/Balaji Nagar Extension: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kuberan Nagar Extension 6th 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, totaling Rs 3,46,500. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kuberan Nagar Extension 6th Street?

The Kuberan Nagar Extension 6th 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 details.

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

When buying or selling property in Madipakkam-1, the guideline value is a crucial factor in determining the registration fees and stamp duties. This value is set by the government and is used to calculate the taxes applicable during the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of property transactions. Accurate knowledge of the guideline value ensures that all parties involved are informed about the financial implications of their real estate dealings.

Frequently asked questions

What is the current guideline value of Kuberan Nagar Extension 6th Street?

The current guideline value of Kuberan Nagar Extension 6th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024. This represents a total increase of 64% over the seven-year period.

What is the land classification for Kuberan Nagar Extension 6th Street?

Kuberan Nagar Extension 6th Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Kuberan Nagar Extension 6th Street?

The Velacheri Sub Registrar Office, which covers Kuberan Nagar Extension 6th Street, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in this area?

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