Guideline Value

Corporate

Guideline Value for Kuberan Nagar Extn 2nd Main Road

₹3850/sq.ft.

The guideline value for Kuberan Nagar Extn 2nd Main Road 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 ₹2345 /sq.ft.
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 Extn 2nd Main Road

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Kuberan Nagar Extn 2nd Main Road guideline value

The current guideline value of Kuberan Nagar Extn 2nd Main Road 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 Extn 2nd Main Road has changed

The guideline value for Kuberan Nagar Extn 2nd Main Road has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, which reflects a 10% increase from the 2023 revision of Rs 3,500 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 2,345 per sq.ft, marking a significant increase of 49% to the 2023 figure. The overall change from 2017 to 2024 is a notable 64% increase.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. This lack of data means we cannot assess the guideline value changes during those periods.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Kuberan Nagar Extn 2nd Main Road's 2024 figure above that median.

Stamp duty and registration fee for property in Kuberan Nagar Extn 2nd Main Road

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 fees to Rs 3,46,500. It's important to 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 Extn 2nd Main Road?

The Kuberan Nagar Extn 2nd Main Road 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 further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid to the government during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the correct revenue based on the property's value as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Kuberan Nagar Extn 2nd Main Road?

The current guideline value of Kuberan Nagar Extn 2nd Main Road 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 from Rs 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 64%. The most recent increase from 2023 to 2024 was 10%.

What is the registration fee for properties in Kuberan Nagar Extn 2nd Main Road?

The registration fee is calculated at 2% of the guideline value. For a property with a guideline value of Rs 38,50,000, the registration fee would be Rs 77,000.

Where can I find the Sub Registrar Office for Kuberan Nagar Extn 2nd Main Road?

The Velacheri Sub Registrar Office covers Kuberan Nagar Extn 2nd Main Road and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is essential for determining the correct revenue that needs to be paid to the government based on the property's value.